This forecast is based on solid growth of gross domestic product (GDP), the development of construction industry and infrastructure, as well as strong domestic demand, Laurent Plasman told participants at the Eurometal Central Europe regional meeting in Warsaw on March 22.
GDP per capita in Poland, the Czech Republic, Slovakia and Hungary was 54% of the EU average in 2000, it jumped to 68% in 2010 and it is expected to reach 79% in 2020. However, the gap between GDP in Eastern Europe and Western Europe is expected to remain.
“[The improving GDP] obviously fuels consumption confidence and spending and translates into better steel demand,” Plasman said.
Strong growth in infrastructure and construction activity supports the positive outlook for the Eastern European market, he said.
Poland, the key Eastern European steel...