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NEWS

World Bank Report on Sharing Prosperity: Paving the Way in Europe and Central Asia

www.worldbank.org
9 April 2014

[Extract.  Read full article here]

Countries in Emerging Europe and Central Asia have done relatively well in ensuring that their populations have shared in overall prosperity, but progress has been uneven and its long-term sustainability is under question, according to a new World Bank report launched today during the World Bank / International Monetary Fund Spring Meetings.

Shared Prosperity: Paving the Way in Europe and Central Asia says that the average income of the bottom 40 percent of the income scale across the entire region increased by 3.8 percent, about 20 percent more than average income growth at the national level, between 2005 and 2010. However, this growth was not distributed equally across countries.

"Since the turbulent transition period of the 1990s, the countries of Emerging Europe and Central Asia have made remarkable overall economic progress, but nevertheless, many people have been left behind in terms of income growth," said Laura Tuck, World Bank Vice President for Europe and Central Asia, at the report launch. "A combination of new analytical thinking followed by appropriate policy action will be required if we are to effectively boost shared prosperity for future generations in the region." [Read full article here].