NEW YORK (voa) – A United Nations report says former East European Communist countries are showing signs of strong economic growth after years of lagging behind.
The U.N. Economic Commission for Europe, which published the report Friday, says the gross domestic product (GDP) for nearly all of the 27 former Communist countries rose last year. The report says collective GDP was up by five percent, making the region one of the fastest growing in the world.
The report (called the Economic Survey of Europe) said the key to the surge is the buoyant growth in the former Soviet republics, where a strong recovery continued for the third straight year. Russia’s economy grew six-point-five percent last year, and most other former Soviet republics improved their economies.
The report noted, however, a slowdown in the growth rate in Hungary and Slovenia, and that Poland has had it share of difficulties.
The report also said market-oriented reforms that began more than a decade ago in the area are paying off.
A U.N. economist said the reforms are making these countries more efficient and productive, and that governments are responding better to market signals. The economist praised these countries for making a difficult transition after suffering many economic hardships.
