Press Release: Commissioner Solbes presents economic forecasts for the candidate countries (2000-2002)

According to the Autumn 2000 Economic Forecasts published by the European Commission, the candidate countries can expect a period of sustained high growth of more than 4% on average, over the forecasting horizon of 2000 to 2002. Economic developments should initially be supported by an improved international environment, in particular the high growth in the EU and also in Russia. In addition, domestic demand should accelerate or remain strong over the forecasting period, as private consumption and investment growth continue to increase. It is expected that steady growth would gradually improve the employment outlook. In 2000, inflation is adversely affected by the high energy prices. In 2001 and 2002 a modest reduction of inflation is expected, except in the high-inflation countries Romania and Turkey, where more rapid disinflation can be anticipated. Average external and fiscal deficits are likely to stay relatively high but sustainable.