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Wednesday, 24.04.2024, 17:40
World Bank: Baltic States had not seen the end of the crisis yet
The World Bank intends to increase the amounts lent to Eastern Europe in the coming fiscal year by 2-3 billion U.S dollars to the current 9.3 billion U.S. dollars at the end of last fiscal year in June, writes ELTA/LETA.
According to Katsu, the recovery of Eastern Europe will be slow and painful to yet unclear extent.
It is predicted that the economies of all post-soviet countries in Eastern Europe will face a significant decline this year and the Baltic States are likely to be among the most affected ones. The export-dependent economy of the Central Europe could shrink by at least 3% in 2009. Latvia's GDP might slump 20% in 2009.
The expert of the World Bank says that the GDP forecasts for the Baltic States, especially Latvia, could deteriorate even more.