Genuine economic recovery in CEE
The economies in Central and Eastern Europe have also been on the road to recovery since the start of the Covid-19 vaccination campaigns. In Poland, GDP grew by 5.7 per cent in 2021 and is already back above the pre-crisis levels of 2019. The strong economic recovery also fuelled inflation (5.1 per cent) in 2021. Economic performance also recovered in the Czech Republic this year, with growth of 3.1 per cent. Hungary’s economy recorded growth of 7.3 per cent in 2021 and is already above the level before the outbreak of the coronavirus pandemic. In the other markets in CEE, the reopening of the economy also led to genuine economic growth.