INOGATE Programme
Impact of the global crisis on neighbouring countries of the EU
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| Release date | 02/07/2009 |
| Contributor | David Conway |
The global crisis that originated in developed economies has increasingly spread to emerging and developing countries via several transmission channels with negative spillovers. As a consequence EU neighbouring countries, being emerging and developing economies, face severe strains. The economies of the eastern EU neighbouring countries are expected to contract by 4% in 2009, being a 10 percentage point reduction in economic growth in comparison with 2008.