World Bank sees weak growth in 2023 for Eastern Europe, Central Asia

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The World Bank says collective gross domestic product in its Europe and Central Asia region is now expected to contract 0.2% in 2022 and grow by 0.3% in 2023 due to spillover effects from Russia's invasion of Ukraine.

“Ukraine continues to need enormous financial support as the war needlessly rages on as well as for recovery and reconstruction projects that could be quickly initiated,” Anna Bjerde, World Bank vice president for Europe and Central Asia, said in a statement.

Turkey’s economy is expected to grow by 4.7% in 2022, compared to 2.3% forecast in June, with 2023 growth now forecast at 2.7%

 

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