Czech director: US dollar helps compensate for impact of oil prices on CEE countries
Luboš Komárek discusses the outlook for Central and Eastern European countries
The stronger US dollar "partly" compensates for the impact of significantly lower oil prices on domestic inflation in Central and Eastern European (CEE) countries, according to Luboš Komárek, a Czech National Bank (CNB) director.
Komárek, head of the external economic relations division at the CNB, discussed the outlook for the CEE region at a CFO executive summit in Prague on April 29.
He pointed to the "favourable outlook" for Germany in 2015, a "crucial trade partner" for many countries in the region. Indeed, Germany accounts for 30% of exports to and imports from the Czech Republic, and only slightly smaller shares in Poland and Hungary.
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