SEE Economies Seen Showing Signs of Recovery in 2010 - Fitch

“Worst fears of a systemic economic and financial meltdown in Emerging Europe have receded as global output has started to recover and financial conditions have eased. Improved prospects have been driven by the huge global fiscal and monetary policy stimulus, rescue packages led by international financial institutions and the EU, and impressive economic resilience and policy discipline," Fitch said in its Emerging Europe Sovereign Review report released on Wednesday.

However, major challenges remain due to the scale of the negative shocks; the costly legacy of the crisis, notably rising public debt ratios, worsening bank asset quality, lower capital inflows and weaker growth prospects; and the uncertain ‘exit’ from the crisis, Fitch added.

FITCH FORECAST FOR GDP GROWTH (in pct) IN 7 SEE COUNTRIES FOLLOWS: