Economic activity in the emerging and developing economies of the Europe and Central Asia region is likely to slow this year as a weaker global economy, tight monetary policy, slowdown in China and lower commodity prices weigh on the region’s growth outlook, says the World Bank’s Economic Update for the region, released on April 11, 202
Regional growth is likely to slow to 2.8% this year, following substantial strengthening to 3.3% in 2023 as the economies of both Russia and war-hit Ukraine returned to growth and because of a more robust recovery in Central Asia. Regional output growth is likely to remain broadly unchanged in 2025.
Headwinds to the outlook are multiple. A slower-than-expected recovery in key trading partners, especially in the euro area, restrictive monetary policies, and an exacerbation of geopolitical developments could further dampen growth across the region.
Date/Time:
8am-9am, Thursday May 2, 2024 (Japan Standard Time)
Speakers:
Sergiy Kasyanenko
Economist, Office of the Chief Economist for Europe and Central Asia Region, World Bank
Dorothe Singer
Senior Economist, Office of the Chief Economist for Europe and Central Asia Region, World Bank
Presentation Material
Europe and Central Asia Economic Update, April 2024: Unleashing the Power of the Private Sector (PDF)