Office of the Chief Economist, Europe and Central Asia

Unleashing the Power of the Private Sector

Economic activity in the Europe and Central Asia (ECA) region is expected to remain resilient but slow this year as a weaker global economy, slowdown in China, and lower commodity prices weigh on the region’s growth ...

Sluggish Growth, Rising Risks

Europe and Central Asia (ECA) continues to be negatively impacted by Russia’s invasion of Ukraine, tighter global financial conditions, persistent inflation, and global economic fragmentation. Nonetheless, economic ...

Weak Growth, High Inflation, and a Cost-of-Living Crisis

Economic growth slowed sharply last year in Europe and Central Asia, as Russia’s invasion of Ukraine, a surge in inflation, and the sharp tightening of monetary policy and financial conditions hit private consumption, ...

Greening the Economy of Europe and Central Asia

The impacts of climate change are profoundly affecting the Europe and Central Asia (ECA) region. As a result of heavy reliance on fossil fuels and energy-intensive economies, the region’s per capita carbon emissions are ...

Energy Crisis: Protecting Economies and Enhancing Energy Security in Europe and ...

This companion piece to the Fall 2022 ECA Economic Update provides an overview of the policy options available to countries to respond to the energy price shock and examines how this crisis could harness the clean energy ...

Social Protection for Recovery

Globalization, demographic trends, the green transition, and technological innovations are transforming labor markets in Europe and Central Asia. Systemic risks—economic, health, or climate-related—are also playing an ...

Building Resilient Migration Systems in the Mediterranean Region: Lessons From ...

This report presents evidence on the impacts of the COVID-19 pandemic on migration in the Mediterranean region and explores whether mobility can still play a central role following the COVID-19 outbreak.

Toward a New Social Contract: Taking on Distributional Tensions in Europe and ...

This report calls for a fundamental rethinking of policies to ease the growing divide between those who benefit from new economic opportunities and those who are left behind in an ever-more flexible economy.

Critical Connections: Promoting Economic Growth and Resilience

The report analyzes the impact of different types of connectivity on growth to help policy makers maximize the economic benefits of these connections across Europe and Central Asia.