World Bank predicts growth of poverty in the Europe and Central Asia (ECA) on the background of positive trends cease falling industrial production.
Global economic and financial crisis blights households in many parts of Eastern Europe and Central Asia, - said regional vice-president of the World Bank's ECA Philippe Leroy at a press conference in Istanbul.
He noted that the World Bank has warned national governments about the need to combat poverty in sharp increase in unemployment and poverty.
Introducing the World Bank study on the impact of economic crisis on the situation in the ECA region, F. Le Roy stressed that the number of poor people (costs less than $ 5 a day), according to recent data, in 2009 will be approximately 160 million people. In the pre-crisis period, the World Bank predicted the number of 130 million people.
Evaluation of the poorest (with costs less than $ 2,5 per day) increased to 39 million to 34 million people. In 2010, the World Bank looks forward to reducing the number of poor in the ECA region to 150 million people (World Bank earlier predicted the number level of 120 million people). Number of poor in the next year in the ECA region is practically unchanged compared to the Year 2009 , - said Leroy.
The World Bank representative also stressed that the projected increase in poverty in all countries of the region. In particular, in Russia, according to the WB, in 2009, more than 15% of the population live below the official poverty line.
In this regard, the World Bank expects to increase the budget deficit. If in 2009 the budget deficit countries in the region varies from 1,5 to 5,5% of GDP, then the next year, the WB does not preclude its growth to 5-6% of GDP.
According to Leroy, over the past year the World Bank increased its financial support to the ECA region by almost 60% - from $ 8 billion in 2008 to $ 12.5 billion in 2009 to reduce the negative impact of the crisis, to support the banking system and help to restore the post-crisis growth.
Only in September 2009, the WorldBank allocated $ 23 billion for budget support, Hungary, Latvia and Ukraine.
Meanwhile, Le Roy stressed that there is good news for the manufacturing sector in the region - the fall in industrial production has stopped since mid-2009. He also noted the decrease in the value of sovereign and corporate borrowing, which contributes to increased industrial production in the region.
Thus, according to the WB, the cost of corporate borrowing fell from 1000 points in November 2008 to 400 points in September 2009, the cost of sovereign borrowing has declined from 900 to 350 points.
Meanwhile, according to Leroy, reducing the cost of resources can cause a dramatic accumulation of external debt, which has the potential to create problems for the corporate sector and sovereign borrowers. According to the World Bank, total external debt of countries in ECA in 2010 will exceed $ 350 billion in the current account deficit is the total balance at $ 200 billion
The Ukrainian government will provide 20 Farm one milk truck
U.S.: Dow Jones seeks … the past
Candy won the wrath of Belarusians
How much does the president?
Current election campaign will cost three times cheaper than the last …
Cabinet approved the curriculum
Survive pessimists
objective reasons for the rapid restoration of the Ukrainian economy in 2010 - no …
Emigrants have earned a pension
Fiscal onslaught on seo
Inflation: one step away from the annual blueprint
According to Goskomstat, after the two previous months, the decline - in July and August, in September, the index increased again …
World Bank predicts growth of poverty in the Europe and Central Asia
World Bank predicts growth of poverty in the Europe and Central Asia (ECA) on the background of positive trends cease falling industrial production.
Global economic and financial crisis blights households in many parts of Eastern Europe and Central Asia, - said regional vice-president of the World Bank's ECA Philippe Leroy at a press conference in Istanbul.
He noted that the World Bank has warned national governments about the need to combat poverty in sharp increase in unemployment and poverty.
Introducing the World Bank study on the impact of economic crisis on the situation in the ECA region, F. Le Roy stressed that the number of poor people (costs less than $ 5 a day), according to recent data, in 2009 will be approximately 160 million people. In the pre-crisis period, the World Bank predicted the number of 130 million people.
Evaluation of the poorest (with costs less than $ 2,5 per day) increased to 39 million to 34 million people. In 2010, the World Bank looks forward to reducing the number of poor in the ECA region to 150 million people (World Bank earlier predicted the number level of 120 million people). Number of poor in the next year in the ECA region is practically unchanged compared to the Year 2009 , - said Leroy.
The World Bank representative also stressed that the projected increase in poverty in all countries of the region. In particular, in Russia, according to the WB, in 2009, more than 15% of the population live below the official poverty line.
In this regard, the World Bank expects to increase the budget deficit. If in 2009 the budget deficit countries in the region varies from 1,5 to 5,5% of GDP, then the next year, the WB does not preclude its growth to 5-6% of GDP.
According to Leroy, over the past year the World Bank increased its financial support to the ECA region by almost 60% - from $ 8 billion in 2008 to $ 12.5 billion in 2009 to reduce the negative impact of the crisis, to support the banking system and help to restore the post-crisis growth.
Only in September 2009, the WorldBank allocated $ 23 billion for budget support, Hungary, Latvia and Ukraine.
Meanwhile, Le Roy stressed that there is good news for the manufacturing sector in the region - the fall in industrial production has stopped since mid-2009. He also noted the decrease in the value of sovereign and corporate borrowing, which contributes to increased industrial production in the region.
Thus, according to the WB, the cost of corporate borrowing fell from 1000 points in November 2008 to 400 points in September 2009, the cost of sovereign borrowing has declined from 900 to 350 points.
Meanwhile, according to Leroy, reducing the cost of resources can cause a dramatic accumulation of external debt, which has the potential to create problems for the corporate sector and sovereign borrowers. According to the World Bank, total external debt of countries in ECA in 2010 will exceed $ 350 billion in the current account deficit is the total balance at $ 200 billion
The Ukrainian government will provide 20 Farm one milk truck
U.S.: Dow Jones seeks … the past
Candy won the wrath of Belarusians
How much does the president?
Current election campaign will cost three times cheaper than the last …
Cabinet approved the curriculum
Survive pessimists
objective reasons for the rapid restoration of the Ukrainian economy in 2010 - no …
Emigrants have earned a pension
Fiscal onslaught on seo
Inflation: one step away from the annual blueprint
According to Goskomstat, after the two previous months, the decline - in July and August, in September, the index increased again …