World Bank sees weak growth in 2023 for eastern Europe, central Asian countries


Reuters | Washington DC | Updated: 04-10-2022 19:36 IST | Created: 04-10-2022 19:34 IST
World Bank sees weak growth in 2023 for eastern Europe, central Asian countries
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The World Bank said economic output for its regional grouping of countries in eastern Europe and central Asia is forecast to contract by 0.2% in 2022 and return to weak growth of 0.3% in 2023 due to spillover effects from the war in Ukraine.

The development lender said the outlook for its Europe and Central Asia Region is subject to "considerable uncertainty" with a prolonged, or intensified war causing greater physical and environmental damage and fragmentation of trade and investment.

"The risk of financial stress also remains elevated, given high debt levels and inflation," the World Bank said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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