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The American-Uzbekistan Chamber of Commerce (AUCC) seeks to promote trade and investment ties, cultural exchanges and bonds of friendship between the United States of America and the Republic of Uzbekistan. In performing these functions, the AUCC places primary emphasis on serving the needs and interests of its members.

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NEWS

Growth in Europe and Central Asia Continues, but Slowly and Unevenly

www.worldbank.org
19 April 2013

Most economies in the Europe and Central Asia (ECA) region grew in 2012, with an average growth rate of 2.5 percent, and are expected to grow in 2013 at a slightly higher rate of about 2.9 percent, World Bank officials said at a press briefing during the World Bank/IMF Spring Meetings 2013. Recovery in ECA will continue to be the slowest compared to other regions in the world, and will be multi-speed, with the western part of the region growing at a much slower pace than the eastern part. Protracted recession and slow growth recovery further aggravate the persistent unemployment in some parts of the region, which in turn has long-term implications for the region's competitiveness and social inclusion. "Since the crisis, we see a multi-speed recovery in the region," said Philippe Le Houérou, World Bank Vice-President for the Europe and Central Asia region. "As a rule of thumb, the closer the countries are to the Euro area, and in particular to Southern Europe, the stronger they feel the impact, as their economies rely more on the Euro area as an export market and the main source of banking flows, foreign direct investments and workers' remittances." Read more here.