EBRD gives gloomy outlook on eastern Europe

Growth is set to falter across most of central and eastern Europe next year, with two of the three Baltic states likely to contract, the European Bank for Reconstruction and Development (EBRD), said on Tuesday.

Erik Berglof, the chief economist at the EBRD, warned that growth in central Europe, south-eastern Europe and the Commonwealth of Independent States (CIS) will slow dramatically into 2009 and that it was too soon to forecast an end to the downturn.

"Any pick up will come probably after

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