2023-09-29 19:59:19
The consequences of Russia’s attack on Ukraine continue to affect growth in many economies in eastern and southeastern Europe in this second year of the war. But there are some countries that clearly benefit from this, namely those in Central Asia. The European Bank for Reconstruction and Development (EBRD) comes to this conclusion in its new economic outlook. Beata Javorcik, chief economist at the Eastern European Bank, recognizes a “divergent growth pattern”. The robust growth of the economies of Central Asia and the weaker development of those of Central Europe and the Baltics reflect the different consequences of energy prices, inflation “and changing trade patterns”.
Andreas Mihm
Economic correspondent for Austria, East Central and Southeast Europe and Turkey based in Vienna.
Growth in the countries of Central Asia this year is expected to exceed that of previous years at 5.7 percent. A further increase to 5.9 percent is expected for the coming year. Other countries can only dream of such gross domestic product (GDP) rates.
#Ukraine #war #leads #economic #boom #Central #Asia