WB: Economic downturn in these countries to be such

13:10 - 7.10.2020


October 7, Fineko/abc.az. The economic downturn is expected to be 4.4% this year in the region's emerging market economies and developing countries.

It also marks the worst recession since 2008.

This is stated in the World Bank’s report on the economic situation in the region of Europe and Central Asia.

The report says that in 2021 the growth is expected to recover and change in the range of 1.1%-3.3%.

"But the outlook remains rather uncertain, and risks affect negative trends. The pace of recovery depends on the duration of the coronavirus (COVID-19) pandemic, the availability and supply of the vaccine, and the level of improvement in the global trade and investments. As a result, if the pandemic situation worsens, the economic growth in the region may be weaker than expected," the report says.

 

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