World Bank Downgrades Economic Growth Forecasts for Developing Countries in Europe and Central Asia

[Asia Economy Reporter Moon Jiwon] The World Bank has downgraded its economic growth forecasts for developing countries in Europe and Central Asia.

On the 8th (local time), the World Bank announced that it had lowered its economic growth forecasts for developing countries in Europe and Central Asia, taking into account the impact of the novel coronavirus disease (COVID-19).

The World Bank projected this year's GDP growth rates for Bulgaria, Hungary, Lithuania, Poland, Serbia, Belarus, Ukraine, Georgia, Kazakhstan, and others to range from a high of -2.8% to a low of -4.4%.

However, the World Bank expects these countries' economies to recover rapidly next year, growing between 5.6% and 6.1%.

Meanwhile, the World Bank also forecasted that sub-Saharan African countries such as South Africa, Nigeria, and Angola would see growth rates between -5.1% and -2.1% this year.

This content was produced with the assistance of AI translation services.