Central and Eastern Europe’s GDP Forecasts Decline: International Monetary Report

Kristalina Georgieva, managing director of the International Monetary Fund, said that over the past five years, the fund’s experts have lowered their GDP forecasts for some countries in Central and Eastern Europe.

In a speech she is due to give at a conference in Dubrovnik on the region’s economic situation, Georgieva adds: “In terms of growth, the aforementioned region is facing serious economic difficulties. We have compared our current forecasts with forecasts for this region before the outbreak.” epidemics, with the exception of Belarus, Russia and Ukraine. Here’s what we found: Real GDP is expected to be 3.5% lower in 2024 than we forecast at the beginning of 2020. over these five years.”

Among the main challenges in the region, Georgieva cited “a weak recovery, robust inflation, and high uncertainty and uncertainty.”

In addition, she noted, the problems in the region are related to energy security, economic fragmentation and geopolitical tensions.

According to the classification of the International Monetary Fund, the countries of Central, Eastern and South-Eastern Europe include: Albania, Belarus, Bulgaria, Bosnia and Herzegovina, Hungary, unrecognized Kosovo, Latvia, Lithuania, Moldova, Poland, Russia, Romania, North Macedonia, Serbia, Slovakia , Slovenia, Turkey, Ukraine, Croatia, Montenegro, Czech Republic and Estonia.

Source: TASS

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