(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 4. International
Monetary Fund (IMF) Managing Director Kristalina Georgiyeva said on
Saturday that IMF experts have downgraded GDP forecasts in several
countries of Central, Eastern and South-Eastern Europe over the
past five years due to economic problems, Trend reports.
In her speech at a conference in Dubrovnik on the economic
situation in the region, Georgiyeva noted that the region is facing
deep economic growth challenges. She compared current IMF forecasts
with those made before the pandemic, with the exception of Belarus,
Russia and Ukraine, and found that real GDP in 2024 is expected to
be 3.5% lower than estimated at the beginning of 2020. She gave an
analogy, saying, "It's like $50 billion has been taken out of
people's pockets in these five years."
Thus, the IMF experts expressed their concern about the economic
situation in the region, noting the negative changes in GDP growth
forecasts and pointing out the economic difficulties faced by the
countries of Central, Eastern and South-Eastern Europe.
In the Central, Eastern and South-Eastern Europe region,
International Monetary Fund (IMF) Managing Director Kristalina
Georgiyeva identified several key challenges. She pointed to "a
weak recovery, persistent inflation and high uncertainty" as the
main challenges in the region. In addition, Georgiyeva noted that
the region also has problems related to energy security, economic
fragmentation and geopolitical tensions.
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