Economic activity in Europe and Central Asia to remain deeply depressed, World Bank says

The World Bank forecasts the minimum economic growth in developing countries of Europe and Central Asia in 2023. According to a report of the international financial institution, ECA’s gross domestic input is set to expand only 0.3 percent. The World Bank said that the region’s economic activity will remain deeply depressed through next year, as the energy price shocks will continue to affect the region. In addition, the output is forecast to contract by 0.2 percent in 2022. Such a slight decrease is due to the extension of stimulus programs by the governments of some states.