Country assessments(South Eastern Europe)

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Since 1994 the EBRD has charted the transition progress of each of its countries of operations in the Transition Report. The Bank’s annual assessments have highlighted key developments and issues central to transition in a wide range of areas, including liberalisation, macroeconomic stabilisation, privatisation, enterprise, infrastructure, financial and social sector reform. The key challenges facing each country are summarised at the beginning of the text. The assessment is complemented by a timeline of important historical events in the transition process.

To provide a quantitative foundation for analysing progress in transition, each country assessment includes a set of tables containing structural and institutional indicators, an overview of selected institutional and legal arrangements, as well as macroeconomic indicators. Compared with earlier Reports, this year’s tables contain a revised series for the price liberalisation transition indicator (as explained in Box 2.1) and a new indicator on poverty, which is based on the US$ 2 per day international poverty line published in the World Development Indicators. All data are as of September 2003.

These data help to describe the process of transition in a particular country, but they are not intended to be comprehensive. Given the inherent difficulties of measuring structural and institutional change, they cannot give a complete account or precise measurement of progress in transition. Moreover, some entries, such as the exchange rate regime and the privatisation methods, are useful only for information and carry no normative content. Other variables may have normative content, but their evaluation may vary depending on the specific country context.

The data should be interpreted with caution also because their quality varies across countries and categories. The data are based on a wide variety of sources, including national authorities, EBRD staff estimates and other international organisations. To strengthen the degree of cross-country comparability, some of the data were collected through standardised EBRD surveys of national authorities. The technical notes at the end of this section provide definitions of the variables, along with country specific qualifications.

Albania

Bosnia and Herzegovina

Bulgaria

FYR Macedonia

Romania

Serbia and Montenegro

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