Central and eastern Europe is slowly emerging from the financial crisis thanks to a recovery in economic growth. The region’s output rose by 4.2% in 2010, according to the European Bank for Reconstruction and Development, with the forecast for roughly the same this year.
Although this growth rate marks a respectable turnaround from the steep decline that the region suffered in 2008 and 2009, it still lags behind Latin America and Asia ex-Japan. As Thomas Mirow, president of the EBRD says, the region is falling behind in the competition for global capital and investment.
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