The former Portuguese colony has developed from an agriculture-based economy into one of Sub-Saharan Africa’s main oil and mineral producers and its third largest economy, with strong growth potential. Relative political stability after a 27-year civil war ending in 2002, high foreign investment (current FDI inflows are estimated at USD 15 bn) and strong government spending have propelled Angola onto a robust growth path: annual real GDP growth has averaged 11% over the past decade, it is estimated at over 8% in 2012 and around 7% in upcoming years. The government has embarked on a series of reforms towards economic diversification and more inclusive growth [more]

Croatia will join the European Union on July 1, 2013 as its 28th member. It will be the second ex-Yugoslav state to become an EU member after Slovenia, which joined in 2004. Croatia has made great strides regarding its political and economic integration into Europe, providing a template for the rest of the Western Balkans. In the medium term, full access to the single market, increased investor confidence and stronger financial integration should boost the economy – provided that Croatia manages to implement overdue structural reforms, in particular tackling a rigid labour market, an overblown public sector and a weak business climate. Currently, Croatia only satisfies one of the five Maastricht criteria in full. Especially in light of the fiscal challenges, it is therefore highly unlikely that Croatia will join the eurozone before 2020. [more]

ASEAN, a bloc of 10 nations with an aggregate economic size of USD 2.3 tr, is preparing to go through profound changes. Already today, ASEAN is the 3rd pillar of growth in Asia in addition to China and India, with average GDP growth over the past 15 years at around 6% p.a. The region’s prospects will be much enhanced by an ambitious integration effort which seeks to achieve a single market and production base. The ASEAN Economic Community (AEC)'s envisaged launch at the end of 2015 will be a potential game changer for ASEAN. [more]