Serbia lacks investment from domestic businesses, and fixed assets are insufficient to provide stable, long-term growth. Growth in gross fixed capital formation in the H1’19 was 8.2 per cent, which was the main demand factor in stimulating the growth of GDP.
Monopolies using their market power to suppress competition and raise prices pose a genuine threat to GDP growth. They can hurt it as much as poor economic policy, says Professor Jonathan B. Baker from the American University Washington College of Law.
While the share of people working on weekends is growing in the European Union, in Poland more employees are taking the weekends off. Although, according to Eurostat, they find it more difficult to afford at least one week of holidays during the entire year.
Republic of Srpska (Republika Srpska, RS) is one of the two political entities of Bosnia and Herzegovina, the other being the Federation of Bosnia and Herzegovina. It is defined by dense forests, mountains and rivers.
If Poland continues catching up with Western Europe at a similar pace as now it could enter the group of the 20 most affluent countries in the world, the G20, before 2030 – says Piotr Arak, the Director of the Polish Economic Institute.
The latest reports of international institutions, investment banks and rating agencies include warnings about a possible global recession and financial crisis. However, the field of economics doesn't have a methodology that would allow it to accurately predict when this will happen.
Everyone who drives a car is able to enjoy great roads, but this pleasure comes at a certain cost. There are measures confirming that road construction costs are lower than the benefits, while investments in motorways provide a strong boost to the economy.
In the 15 years since the accession to the European Union Poland has modernized its economy and has made great progress in the comprehensive modernization of the country, including a reconstruction of the transport infrastructure.
Last year, 14 per cent of Lithuania's exports went to Russia, the largest share among the country's other importers. Latvia is Lithuania's second biggest trade partner, followed by Poland and Germany.
The influx of workers from Ukraine boosts Poland's GDP by 0.3-0.9 percentage point per year, but this positive impulse won't step up anymore, predicts Jakub Growiec, an economic adviser at Poland’s central bank, NBP.