Next 15 years could be a lot tougher than the last 15
For the V4 countries, the next 15 years could be a lot tougher than the last 15, writes the Economist weekly. Their impressive economic growth since joining the EU in 2004 was based on access to generous subsidies from the EU, munificent flow of remittances from workers in Germany, Austria or Britain, and the success of the German economy. These factors are now petering out and the innovation potential of these countries is insufficient for them to escape the notorious “middle-income trap”. They face ageing populations and labor shortages that will soon start to limit their economic growth. Populist governments in the region, though, are not intent on increasing immigration.