dc.contributor.author	Kasyanenko, Sergiy
dc.contributor.author	Izvorski, Ivailo
dc.contributor.author	Singer, Dorothe
dc.date.accessioned	2023-09-25T15:10:32Z
dc.date.available	2023-09-25T15:10:32Z
dc.date.issued	2023-10-05
dc.description.abstract	Europe and Central Asia continues to be negatively impacted by the Russian Federation’s invasion of Ukraine, tighter global financial conditions, persistent inflation, and global economic fragmentation. Economic growth in the region is projected to remain weak relative to the long-term trend, delaying the convergence of living standards to those of high-income countries. The impacts of climate change are becoming a serious constraint on growth, as extreme weather events are affecting the region with increased frequency and severity. Economic growth for the emerging market and developing economies of the Europe and Central Asia region has been revised up to 2.4 percent for 2023. The pickup in growth reflects improved forecasts for Ukraine, Central Asia, Türkiye and Russia. Downside risks cloud the outlook. High inflation may persist amid heightened volatility in global commodity markets and a surge in energy prices. Global financial conditions may tighten further. And global growth, already the weakest on record for any five-year period since 1990, may slow further.
dc.identifier.doi	10.1596/978-1-4648-2045-8
dc.identifier.isbn	978-1-4648-2045-8 (electronic)
dc.identifier.uri	https://openknowledge.worldbank.org/handle/10986/40389
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	http://creativecommons.org/licenses/by/3.0/igo
dc.subject	ECONOMIC GROWTH
dc.subject	ECONOMIC FORECAST
dc.subject	RUSSIA’S INVASION OF UKRAINE
dc.subject	INFLATION
dc.subject	BUSINESS DYNAMISM
dc.subject	PRIVATE SECTOR DEVELOPMENT
dc.subject	ROLE OF THE STATE
dc.title	Europe and Central Asia Economic Update, Fall 2023
dc.title.subtitle	Sluggish Growth, Rising Risks
dspace.entity.type	Publication
okr.associatedcontent	https://openknowledge.worldbank.org/handle/10986/41017 Greening the Economy of Europe and Central Asia
okr.doctype	Publications & Research::Publication
okr.identifier.doi	10.1596/978-1-4648-2045-8
okr.language.supported	en
okr.region.administrative	Europe and Central Asia
okr.region.geographical	Europe
okr.region.geographical	Central Asia
okr.topic	Macroeconomics and Economic Growth
okr.topic	Poverty Reduction
okr.topic	Conflict and Development
okr.unit	Office of the Chief Economist, Europe and Central Asia Region
relation.isAuthorOfPublication	1c6a6184-37da-4d0b-a30a-a4779e7c6fea
relation.isAuthorOfPublication	7d5093ed-b084-426c-80af-dda30c51d6d4
relation.isAuthorOfPublication.latestForDiscovery	1c6a6184-37da-4d0b-a30a-a4779e7c6fea

Publication: Europe and Central Asia Economic Update, Fall 2023: Sluggish Growth, Rising Risks

Files

Original bundle

License bundle

Collections

Publication:
Europe and Central Asia Economic Update, Fall 2023: Sluggish Growth, Rising Risks