VIENNA, Nov. 7 (Xinhua) -- A smaller post-Brexit EU budget, among others, could increase risks for the Central, East and Southeast Europe's economic growth in the next two years, a research institute said on Wednesday.
The economic growth of the Central, East and Southeast Europe (CESEE) is generally positive, however, downside risks have increased further this year and present a serious threat to the region's growth, according to the Vienna Institute for International Economic Studies.
The institute forecast that the growth across most of the CESEE region remains robust, and this is likely to continue during the forecast period. However, growth in the region has passed its peak, and the pace of expansion for CESEE as a whole will trend downwards in 2019 and 2020.
The report also noted that China's Belt and Road Initiative has important implications for CESEE, and especially for the Western Balkans, suggesting the initiative bring important infrastructure upgrading.