Author Description

This report assesses recent economic developments in central eastern Europe and the Baltic states, south-eastern Europe and the Commonwealth of Independent States. The key points are: progress in reform during 2003-04 was most pronounced in south-eastern Europe, elsewhere the pace of transition was uneven; the transition countries are expected to grow by 6.1 per cent in 2004, helped by a positive international trade environment; rapid credit growth is boosting domestic consumption and investment; in the infrastructure sector, many countries have found it difficult to establish independent, accountable and credible regulatory agencies; private sector participation is increasingly taking the form of concessions and management contracts rather than asset sales; local investors are becoming more important.