September 30 (SeeNews) - Economic growth in the countries in Southeastern Europe (SEE) is expected to accelerate to a real 2.8% in 2016 from this year's forecast of 2.4% despite the tense external environment, Raiffeisen Research said on Wednesday.
The positive outlook is underpinned by the recovery signs in Croatia and Serbia, Raiffeisen Research said in a report.
Croatia's gross domestic product (GDP) is seen posting a growth of 0.5% in 2015 before doubling the pace in 2016. Serbia's GDP is expected to be flat this year. However, Raiffeisen expects for the country's GDP to increase by 2.5% in 2016.
Romania remains the GDP growth driver in the SEE region with stable growth of 3.5% expected in both 2015 and 2016.
Kosovo's GDP growth is expected to reach 3% in 2015 and to match that pace in 2016.
The report confirmed Albania's GDP growth of 2.7% in 2015 and forecast a 4% increase for 2016.
Bosnia and Herzegovina is seen posting an economic growth of 2% in 2015 and of 3% in 2016
The report affirmed the GDP growth forecasts for Bulgaria at 2% and 2.1% in the 2015 and 2016, respectively.
SEE is less likely to be affected by the two external factors - the drop in China's GDP and the US monetary policy, as companies in the region do not have large volumes of direct trade or financing from those countries, Raiffeisen added.
Furthermore, any negative effects would also be partially offset by the positive impact on lower commodity and energy prices.
The economy of SEE countries expanded by 1.5% in 2014.
For the purposes of the report, SEE comprises Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Kosovo, Romania and Serbia.