World Bank warns Eastern Europe and Central Asia

RUSSIA / FSU POLITICS - In Brief 08 Jun 2021 by Alex Teddy
On June 8 the World Bank said that these regions face major risks well into 2022. These regions will grow by 3.9% in 2021. That seems excellent but in many cases it will not make up for the losses since March 2020. Russia will grow 3.2% in 2021. Rising world demand and rising prices for industrial goods will boost these regions. The region is hampered by vaccination being painfully slow. Macroeconomic support is often insufficient and is due to be terminated prematurely. The recovery is more sluggish than anticipated. Tourism and service industries have been decimated. These regions are dependent on remittances from their citizens working abroad and fewer have been able to work abroad in the last 15 months than usual.Currencies in the region have mostly lost value. This has made vital imports costlier. There has not been enough of a concomitant benefot in that exports are cheaper. Inflation is acute in Armenia, Belarus, Georgia, Kyrgyzstan, Russia, Ukraine and Tajikistan.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.