Six countries in eastern Europe will suffer a recession this year due to the effects of the eurozone crisis and EU-wide austerity measures, economic forecasters said Friday in Vienna.

Economic growth has been losing steam in the entire region, according to the Vienna Institute for International Economic Studies, which focuses on eastern Europe.

The economies of Bosnia-Herzegovina, the Czech Republic, Hungary, Serbia, Croatia and Slovenia were forecast to shrink in 2012, with the latter two countries declining the most, at a rate of 1.5 per cent.

Bulgaria, Montenegro and Romania were expected to narrowly escape such a fate.

"At present, the major and most realistic danger facing the majority of central, eastern and south-eastern European countries is that they will stick to their commitment to fiscal consolidation, even if investment, consumption and exports continue to weaken," the institute said.

Sagging demand from importers in western Europe was also expected to hurt eastern manufacturers.

Russia, Kazakhstan and Ukraine were projected to grow healthily, but the experts warned that falling prices for steel, oil, gas and other commodities would have a negative effect.