“It is like taking €50 billion out of peoples’ pockets over these five years,“ the IMF chief noted. theSun theSundaily economic inflation WorldNews
: Eastern and Southeastern Europe is facing deep economic “scarring” and high inflation along with weak growth, reported Sputnik, quoting International Monetary Fund Managing Director Kristalina Georgieva.
The IMF’s current 2024 outlook for the region, with the exception of Belarus, Russia, and Ukraine, is 3.5 per cent lower than the fund expected to see just before the pandemic in 2020.Georgieva stated that persistently high inflation and weak growth remain major challenges for the region. Georgieva highlighted the need to bring down inflation while sustaining the recovery and laying the foundations for future growth. This process requires monetary, fiscal, and structural policies, she added.
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