The World Bank's regional grouping includes Albania,
Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria,
Croatia, Georgia, Kazakhstan, Kosovo, Kyrgyzstan, Moldova,
Montenegro, North Macedonia, Poland, Romania, Russia, Serbia,
Tajikistan, Turkey, Turkmenistan, Ukraine and Uzbekistan.
(Reporting by David Lawder
Editing by Tomasz Janowski)
(Corrects Russia 2023 GDP forecast to contraction of 0.2%)
WASHINGTON, April 6 (Reuters) - The World Bank on
Thursday lifted its 2023 economic growth forecast for eastern
Europe and central Asia to 1.4% from an earlier 0.1% prediction,
citing improved outlooks for both Russia and Ukraine despite
their ongoing war.
The regional forecast, released just days before the World
Bank and International Monetary Fund hold their annual spring
meetings, has Ukraine's economy growing by 0.5% this year
following a staggering contraction of 29.2% in 2022, the year
Russia launched its invasion.
"While the economic toll suffered by Ukraine as a result of
the invasion is enormous, the reopening of Ukraine’s Black Sea
ports and resumption of grain trade, as well as substantial
donor support, are helping support economic activity this year,"
the World Bank said in a statement.
Russia's economy shrank 2.1% last year, considerably less
than the 3.5% contraction the World Bank forecast in January.
For 2023, the World Bank forecast Russia's economy to
contract by 0.2%, compared to its previous forecast of a 3.3%
contraction.
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