EDB member states slow down economic recovery in October amid pandemic – survey
<p> MINSK, Nov 12 - PrimePress. Member states of the Eurasian Development Bank (EDB, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan) in October - early November 2020 slowed down the pace of economic recovery against the background of the COVID-19 pandemic, reads the October edition of the EDB Macroeconomic Review. </p> <p> </p> <p> EDB experts says, in October - early November 2020 the risks of slowing down the economic recovery process in the EDB member states have increased. “The increased intensity of COVID-19 is leading to tighter social exclusion measures and is likely to translate into greater social distance both abroad and in the countries in the region where the bank operates. Under these circumstances, economic activity in the EDB member countries could decline in the fourth quarter of 2020. Its weakening in the region’s largest economies in October is indicated by composite PMIs: in Russia the indicator dropped to 47.1 points from 53.7 points a month earlier, and in Kazakhstan to 49.7 points from 52.8. Overall, uncertainty about the outlook for economic development remains high,” the survey says. End </p>
2020-11-13
Primepress
EDB member states slow down economic recovery in October amid pandemic – survey
MINSK, Nov 12 - PrimePress. Member states of the Eurasian Development Bank (EDB, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan) in October - early November 2020 slowed down the pace of economic recovery against the background of the COVID-19 pandemic, reads the October edition of the EDB Macroeconomic Review.
EDB experts says, in October - early November 2020 the risks of slowing down the economic recovery process in the EDB member states have increased. “The increased intensity of COVID-19 is leading to tighter social exclusion measures and is likely to translate into greater social distance both abroad and in the countries in the region where the bank operates. Under these circumstances, economic activity in the EDB member countries could decline in the fourth quarter of 2020. Its weakening in the region’s largest economies in October is indicated by composite PMIs: in Russia the indicator dropped to 47.1 points from 53.7 points a month earlier, and in Kazakhstan to 49.7 points from 52.8. Overall, uncertainty about the outlook for economic development remains high,” the survey says. End