Europe and Central Asia Economic Update, Spring 2020 : Fighting COVID-19

In February 2020, the coronavirus outbreak interrupted the recovery that was underway in the Europe and Central Asia region earlier in the year. Given the rapidly evolving situation, this update summarizes the recent developments and growth outlook for the region under different scenarios regarding...

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Main Author:	World Bank
Format:	Serial
Published:	Washington, DC: World Bank 2020
Subjects:	CORONAVIRUS COVID-19 ECONOMIC SHOCK ECONOMIC GROWTH ECONOMIC OUTLOOK FISCAL TRENDS
Online Access:	http://documents.worldbank.org/curated/en/276301586361664871/Fighting-COVID-19 http://hdl.handle.net/10986/33476

id	okr-10986-33476
recordtype	oai_dc
spelling	okr-10986-334762021-05-25T09:33:39Z Europe and Central Asia Economic Update, Spring 2020 : Fighting COVID-19 World Bank CORONAVIRUS COVID-19 ECONOMIC SHOCK ECONOMIC GROWTH ECONOMIC OUTLOOK FISCAL TRENDS In February 2020, the coronavirus outbreak interrupted the recovery that was underway in the Europe and Central Asia region earlier in the year. Given the rapidly evolving situation, this update summarizes the recent developments and growth outlook for the region under different scenarios regarding the outbreak. Although the magnitudes are uncertain, the pandemic is likely to derail the near-term outlook by interrupting daily activity, putting further downward pressure on commodity prices, disrupting tightly linked global and regional supply chains, reducing travel and tourist arrivals, and decreasing demand for exports from economies in the region. There are trade-offs between the health benefits of policies to slow down the spread of the disease and the economic costs of these actions. During these difficult times, it is important for policy makers to act decisively to save lives and invest in their public health systems; but also minimize the economic cost by strengthening the safety net for the most vulnerable; supporting the private sector through short-term credit, tax breaks, or subsidies; and being prepared to lower interest rates and inject liquidity to restore financial stability and boost confidence. 2020-03-25T15:57:25Z 2020-03-25T15:57:25Z 2020-04-09 Serial http://documents.worldbank.org/curated/en/276301586361664871/Fighting-COVID-19 978-1-4648-1564-5 http://hdl.handle.net/10986/33476 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank Publications & Research :: Publication Publications & Research Europe and Central Asia Central Asia Europe Europe and Central Asia
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
topic	CORONAVIRUS COVID-19 ECONOMIC SHOCK ECONOMIC GROWTH ECONOMIC OUTLOOK FISCAL TRENDS
spellingShingle	CORONAVIRUS COVID-19 ECONOMIC SHOCK ECONOMIC GROWTH ECONOMIC OUTLOOK FISCAL TRENDS World Bank Europe and Central Asia Economic Update, Spring 2020 : Fighting COVID-19
geographic_facet	Europe and Central Asia Central Asia Europe Europe and Central Asia
description	In February 2020, the coronavirus outbreak interrupted the recovery that was underway in the Europe and Central Asia region earlier in the year. Given the rapidly evolving situation, this update summarizes the recent developments and growth outlook for the region under different scenarios regarding the outbreak. Although the magnitudes are uncertain, the pandemic is likely to derail the near-term outlook by interrupting daily activity, putting further downward pressure on commodity prices, disrupting tightly linked global and regional supply chains, reducing travel and tourist arrivals, and decreasing demand for exports from economies in the region. There are trade-offs between the health benefits of policies to slow down the spread of the disease and the economic costs of these actions. During these difficult times, it is important for policy makers to act decisively to save lives and invest in their public health systems; but also minimize the economic cost by strengthening the safety net for the most vulnerable; supporting the private sector through short-term credit, tax breaks, or subsidies; and being prepared to lower interest rates and inject liquidity to restore financial stability and boost confidence.
format	Serial
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Europe and Central Asia Economic Update, Spring 2020 : Fighting COVID-19
title_short	Europe and Central Asia Economic Update, Spring 2020 : Fighting COVID-19
title_full	Europe and Central Asia Economic Update, Spring 2020 : Fighting COVID-19
title_fullStr	Europe and Central Asia Economic Update, Spring 2020 : Fighting COVID-19
title_full_unstemmed	Europe and Central Asia Economic Update, Spring 2020 : Fighting COVID-19
title_sort	europe and central asia economic update, spring 2020 : fighting covid-19
publisher	Washington, DC: World Bank
publishDate	2020
url	http://documents.worldbank.org/curated/en/276301586361664871/Fighting-COVID-19 http://hdl.handle.net/10986/33476
_version_	1764478845825581056

Europe and Central Asia Economic Update, Spring 2020 : Fighting COVID-19

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