dc.contributor.author	Izvorski, Ivailo
dc.contributor.author	Kasyanenko, Sergiy
dc.contributor.author	Lokshin, Michael M.
dc.contributor.author	Torre, Iván
dc.date.accessioned	2024-08-05T14:52:27Z
dc.date.available	2024-08-05T14:52:27Z
dc.date.issued	2024-10-17
dc.description.abstract	Economic growth in Europe and Central Asia (ECA) is likely to moderate from 3.5 percent in 2023 to 3.3 percent this year. This is significantly weaker than the 4.1 percent average growth in 2000-19. Growth this year is driven by expansionary fiscal policies and strong private consumption. External demand is less favorable because of weak economic expansion in major trading partners, like the European Union. Growth is likely to slow further in 2025, mostly because of the easing of expansion in the Russian Federation and Turkiye. This Europe and Central Asia Economic Update calls for a major overhaul of education systems across the region, particularly higher education, to unleash the talent needed to reinvigorate growth and boost convergence with high-income countries. Universities in the region suffer from poor management, outdated curricula, and inadequate funding and infrastructure. A mismatch between graduates' skills and the skills employers are seeking leads to wasted potential and contributes to the region's brain drain. Reversing the decline in the quality of education will require prioritizing improvements in teacher training, updated curricula, and investment in educational infrastructure. In higher education, reforms are needed to consolidate university systems, integrate them with research centers, and provide reskilling opportunities for adult workers.
dc.identifier.doi	10.1596/978-1-4648-2185-1
dc.identifier.isbn	978-1-4648-2185-1
dc.identifier.uri	https://hdl.handle.net/10986/41997
dc.language.iso	en_US
dc.publisher	Washington, DC: World Bank
dc.rights	CC BY 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	https://creativecommons.org/licenses/by/3.0/igo/
dc.title	Europe and Central Asia Economic Update, Fall 2024: Better Education for Stronger Growth
dc.type	Serial
dspace.entity.type	Publication
okr.doctype	Publication and Research::Publication
okr.identifier.doi	https://doi.org/10.1596/41997
okr.region.administrative	Europe and Central Asia (ECA)
okr.region.geographical	Europe
okr.region.geographical	Central Asia
okr.topic	Macroeconomics and Economic Growth
okr.topic	Education
okr.topic	Poverty Reduction
okr.unit	Europe and Central Asia Office of the Chief Economist
relation.isAuthorOfPublication	1c6a6184-37da-4d0b-a30a-a4779e7c6fea
relation.isAuthorOfPublication	909e4f7e-4564-5a08-8962-e4c0ff569272
relation.isAuthorOfPublication	875b80ce-8cab-4599-b1c8-407b5d81bb47
relation.isAuthorOfPublication.latestForDiscovery	1c6a6184-37da-4d0b-a30a-a4779e7c6fea

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Europe and Central Asia Economic Update, Fall 2024: Better Education for Stronger Growth