EBRD raised its growth projection for Poland to 3.9% from 3.5% and its Hungary estimate to 2.0% from 1.7%, but the group kept forecasts for Russia and Turkey unchanged and dropped Ukraine’s outlook to 4% from 4.5%. [Poland ETFs Benefit From Debt Crisis.]

Looking at funds like Market Vectors TR Russia (NYSEArca: RSX) and SPDR S&P Emerging Europe ETF (NYSEArca: GUR), however, they haven’t far outperformed Western Europe funds like iShares S&P Europe 350 (NYSEArca: IEV). But that may happen if Eastern Europe can dodge its potholes.

For more information on Eastern Europe, visit our Eastern Europe category.

Max Chen contributed to this article.