Business & Economy Hungary News Poland

Poland and Hungary’s economic growth highest in the EU

Warsaw, Poland – Poland and Hungary had the two highest economic growth rates in the third quarter 2019, according to Eurostat data.

Compared to the previous quarter, Poland and Hungary’s GDP grew by 1.3% and 1.1% respectively, the two highest rates in the bloc – well above the Eurozone (+0.2%) and EU average (+0.3%) – cementing their place as the most attractive and fastest-growing markets in Europe today.

Slovakia (+0.4%) and the Czech Republic (+0.3%) lag behind their two Visegrad partners, while Bulgaria (+0.7%) and Romania (+0.6%) also count among the EU’s booming economies.

Warsaw
With one of Europe’s highest economic growth rate, Poland has been ranked as one of the best countries in the world to invest in and start a career, according to a U.S. News ranking.

Compared to the same quarter last year, Hungary takes the top spot as the fastest-growing economy in the bloc (+4.8%), followed by Poland (+4%), Bulgaria (+3.7%), Lithuania (+3.6%) and Romania (+3.2%).

The Czech Republic grew by 2.5% year-on-year, slightly ahead of Slovakia (+1.8%), where authorities have warned of an imminent economic slowdown.

Despite their commendable performances, Central European economies remain extremely vulnerable to external chocs, according to analysts, and may struggle to cope with the slowdown of the Eurozone, particularly of Germany, whose economy only grew by 0.5% year-on-year.