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World Bank warns of eurozone risks for Eastern Europe, Central Asia
Sep 23, 2011, 20:09 GMT
Washington - The economic recovery in Eastern Europe and Central Asia is slower than in other developing regions but similarly 'at risk' from the troubled eurozone, the World Bank said Friday.
The World Bank projects growth to average 4.3 per cent this year across Central Asia and post-communist emerging Europe, which easily beats advanced economies but is 'one of the lowest of any developing region,' said Philippe Le Houerou, World Bank vice president for the Europe and Central Asia region.
'The slow recovery in the region may be establishing a 'new normal' of lower economic growth rates in many of the region's countries,' he said during the annual meetings in Washington of the World Bank and the International Monetary Fund.
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