The World Bank’s latest Economic Update for the Europe and Central Asia region paints a sobering picture of economic activity, forecasting a slowdown in growth due to various factors. Despite a substantial strengthening in 2023, regional growth is projected to slow to 2.8% this year, with headwinds from a weaker global economy, tight monetary policies, and geopolitical tensions.
Antonella Bassani, World Bank Vice President for the region, emphasizes the need for countries to address multiple crises and revive productivity growth to protect their people and accelerate economic recovery….
