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.