Turkmenistan, Ashgabat, Oct. 11 / Trend H.Hasanov /
The World Bank (WB) reported that the resumption of economic growth has been observed in European and Central Asian countries with transition economies. Meanwhile, continuing unemployment causes concern and the sustainability of growth is doubtful.
The bank reports that European and Central Asian countries with transition economies were affected by the global economic and financial crisis more than others.
"The good news is that the countries of Central and Eastern Europe and Central Asia, which faced a slump during the global economic crisis, are observing a resumption in economic growth," the World Bank's Vice President for Europe and Central Asia Region, Philippe Le Houérou, said.
"However, the recovery process runs unevenly in thirty countries of the region characterized by heterogeneous economies. Economic growth was observed in most of the region, but there are countries that have not yet returned to the path of economic recovery. [...] the number of unemployed continues to rise in the CIS. Such a slow and painful recovery process especially affects families making ends meet, " Le Houérou said.
The European and Central Asian region suffered from the global economic and financial crisis more than other regions of the world due to a loss in integration of the international trade and financial markets, and also because of certain shortcomings in the economic policies of some countries.
The slump in global economic activity caused the sharpest contraction of economic activity, tax revenues and capital inflows to all developing regions in the region because of close international cooperation.
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