Czechia is the fastest growing economy in CEE in 2015 - Deloitte

Czechia became the fastest growing economy in the CEE region in 2015, while Ukraine came in last place, according to the 2015 CE Top 500 ranking by the global advisory Deloitte. Significant factors impacting the region’s position were the fluctuating exchange rates of the CE countries’ national currencies against the euro. "In the Czechia, the sharp 8.8 percent increase in exports (0.2 per cent in 2013) was an effect of the weakening of the Czech koruna by the Czech National Bank. The depreciation of the Polish currency in 2014 had a positive effect on the profitability of the country’s exports (up 5.2 percent in 2014)," the report stated. Meanwhile, the geopolitical situation in Ukraine triggered the depreciation of the hryvnia against the euro. Consequently, 84 percent of the Ukrainian companies in the ranking reported decreases in their euro-denominated revenues. The revenue posted by all the companies in the ranking totaled €682 billion, a 1.8 percent year-on-year decrease. The minimum revenue for a company to qualify for the Top 500 (€459 million) was 3.7 percent lower than in the previous ranking. The Central Europe Top 500 ranking is based on revenues reported by a particular legal entity operating in Central Europe.