Expected growth next year to remain fragile, says EBRD

Oct 22, 2009
Staff and wire reports

RIGA - The European Bank for Reconstruction and Development has forecast that the economies of former Soviet bloc nations will shrink 6.3 percent on average in 2009 before returning to growth next year, reports news agency LETA. “The economies of central and eastern Europe are expected to contract by an average of 6.3 percent in 2009 following steep output declines in the first half of the year,” says the annual economic report. The predicted contraction in gross domestic product is sharper ...

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