Strong growth in CEE economies over past two decades

CEE Economies Special Report , 22. Apr

In most CEE countries that joined in 2004, the level of GDP per capita is higher by 16 to 19 percent than it would be compared to the alternative scenario of non-membership. Looking from a different angle of growth dynamics, GDP per capita doubled in Romania and Poland over the last two decades. Slovakia also reached an outstanding performance, as GDP per capita is 75% higher compared to 2004. In Hungary, GDP per capita is 50% higher. Slovenia and Czechia gained 40%, but their starting point was the highest within CEE8. Further, nominal wages grew at least twice as fast as the EU27 average since 2008.

The CEE region is a net recipient of EU funds. CEE7 (i.e. excluding Serbia) has received in total EUR 205bn since the EU membership of respective countries. Apart from monetary benefits, the EU offers harmonized regulations and a stable political and economic environment for businesses. The pillars of the single market (free flow of goods, services, people and capital) benefit everyday lives mostly.