Baku-APA. The Vienna Institute for Economic Studies on Monday announced Central and Eastern Europe (CEE) was expected to grow slightly in 2013, bringing seven out of eight countries out of recession, APA reports quoting Xinhua.
The think tank said only Slovenia, currently battling a banking crisis, is expected to remain in recession with an expected 1.5 percent negative growth in 2013.
Exports in the region rose sharply in 2010 and 2011 but almost came to a stillstand in 2012, the institute said, allowing energy producing nations such as Russia and Kazakhstan to pick up the slack.
Astrov said the lack of growth in the region this year was largely due to weak exports leading to a general weakness in domestic demand, along with public sector austerity measures.