GDP growth outlook for CEE emerging markets.

This year Czech and Slovak economies will probably fall about 3.5 percent. According to the latest estimate from the European Bank for Reconstruction and Development (EBRD). In the January the bank expected that the Czech economy will stagnate this year and Slovak increase of 2.5 percent. Czech National Bank in the new forecast is expected that the Czech economy will fall by 2.4 percent.

At the same time, the EBRD said that gross domestic product in emerging European economies will fall by 5.2 percent. The January estimate calculated with an increase of 0.1 percent following last year's growth by 4.2 percent.

The bank added that the global credit crisis, which had an immediate impact on the financial sector in the region, is now seriously affecting the corporate sector and leading to a large decline in output and domestic consumption.

The next year, the economy of developing countries in Europe should return to growth and increase of 1.4 percent. This will help mainly the gradual recovery in the second half. Yet, there are still risks that this estimate may still change.

The bank first revised estimate of growth in the region in January. In the November estimate calculated with GDP growth of three percent for the region.

Czech National Bank today estimate the development of the Czech economy to revise the decline of 2.4 percent, even in February the estimated decline only by 0.3 percent. Next year should the economy grow again, by 1.4 percent.

Ministry of Finance expects decline of 2.3 percent. In 2010, the gross domestic product will increase slightly by 0.8 percent. International Monetary Fund expects the Czech economy will fall by 3.5 percent and the European Commission of 2.7 percent.

Slovak Ministry of Finance assumes that the economy will grow. In June, they will publish a new forecast, which it will be based on timely data. But Finance Minister Ján Počiatek has already admitted that the Slovak economy could slump this year, about two and a half percent. European Commission for this year provides for the Slovak economy, the decline of 2.6 percent.

Estimated economic growth for the countries of Central Europe and the Baltic States according to the EBRD: