Eastern European economy continues to expand
In its latest Transition Report, the European Bank for Reconstruction and Development (EBRD) said that economic growth in the Commonwealth of Independent States as a whole could reach 4% in 2003, but will be slightly lower in Russia.
Although growth in Central and Eastern Europe has slowed this year, the region is still likely to expand by 3.5% in 2002, compared with global growth of 1.5%.
The Business Environment and Enterprise Performance Survey (BEEPS), conducted jointly by the EBRD and World Bank and based on 6,000 interviews with entrepreneurs in 26 countries, reveals improvements in finance, infrastructure, taxation, anti-corruption measures and fighting crime.
The survey found that, on average, companies are now paying only 1.5%-2% of their incomes in bribes.
