Fri, May 25 2012

Structural reforms necessary now

Thu, Nov 12 2009 12:28 CET

byBudapest Times

1193 Views
Structural reforms necessary now

World Bank president Robert Zoellick

The economic policy choices made by some countries of Europe and Central Asia (ECA) during the transition from centrally planned to market economies contained the seeds of vulnerability when facing the global economic crisis and are also likely to shape the recovery, says a new World Bank report on the 20th anniversary of the fall of the Berlin Wall. 

Quick rise, hard fall 

The report, Turmoil at Twenty: Recession, Recovery, and Reform in Central and Eastern Europe and the former Soviet Union, says many countries in ECA are well integrated today into global markets. While this integration brought many benefits and drove the region’s spectacular growth in the decade since the Russia financial crisis of 1998, it also exposed ECA countries to three channels through which the crisis has hit the region hard: financial, market, and labour.

Read more at the Budapest Times

  • Print
  • Send via email
  • Translate to
  • Share:

To post comments, please, Login or Register.


Please read the The Sofia Echo forum comments policy.

Experts recall 'The Czech Miracle'

Twenty years ago the transition from a command to market economy began.

More in this category

Putin takes Russian presidency for historic third term

World leaders acknowledged Putin's victory with reservations, and international observers say the election was skewed in the former president's favour.

France elects first socialist president in nearly two decades

Hollande's call for more spending and economic growth has struck a chord with French voters.

Serge Sarkisian’s ruling party wins Armenian parliamentary elections – exit polls

Gallup International Association poll gives president Sarkisian’s party 44 per cent, while three main challengers alleged ‘machinations’ by ruling party in what – in contrast to 2008 – reportedly was a largely peaceful election.

Report: Only 14.5 per cent of people have access to free press

The Freedom House report says the media environment in the Middle East and North Africa underwent major improvements in 2011, but remained the worst-performing part of the world.

Don’t like the job, time to move on

Dissatisfaction with jobs is a global phenomenon and two-thirds of workers all over the world intend to look for another job in the near future, the survey concluded.

© 2000-2012, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.