26.10.2009 14:56
YEREVAN, October 15, /ARKA/. Economies that continue to face problems in their banking sectors and domestic obstacles to a return of confidence could contract further in 2010 or show only flat growth, according to EBRD Transition report.
The economies of central and eastern Europe are expected to contract by an average of 6.3 percent in 2009 following seep output declines in the first half of the year, EBRD said. Signs of positive growth in the third quarter of 2009 suggest that the recession is now bottoming out in many countries of the EBRD region. However, any upturn in 2010 is likely to be fragile and patchy.
The EBRD’s Transition Report 2009, which will be published in full next month, points out there are likely to be significant cross-country differences in output growth in 2010, masked by an average growth rate for the region of about 2.5 percent.
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