Emerging Europe ‘resilient' despite recession

Emerging markets across Europe are reaping the benefits of recent stimulus injections and low personal debt to stay strong in the face of recessionary pressures, the Baring Emerging Europe trust says.

Matthias Siller, manager of Baring Emerging Europe, says earnings across the region have generally beat expectations, while growth outlook for the region has been revised up. He projects a positive period ahead for the region, especially Poland, central Europe's largest economy, which he says looks like it "will not shrink in 2009". Siller attributes the resilience of Europe's newer markets to their strategy of combining cuts in interest rates with government cash injections. "Importantly, whilst these economies were fighting significant global headwinds, domestic governments, part...