Article source
Wall Street Journal
Article date
Mon, Nov 6, 2017
Central and southeastern European economies are on course for their strongest year of growth since the global financial crisis, in part due to a surge in wages and stronger demand from the recovering eurozone, according to forecasts from the European Bank for Reconstruction and Development.
The 18 nations in the region, seven of which are eurozone members, suffered a sharp slowdown in the wake of the crisis and that was prolonged by the euro area’s subsequent struggles with government debt and weak banks. As a consequence, for much of the past decade, the expected convergence between incomes in eastern and western Europe has stalled.