THE OFFICIALS FROM THE BLACK SEA REGION DISCUSSED THE ECONOMIC SITUATION
PanARMENIAN.Net
25.02.2009 23:28 GMT+04:00
/PanARMENIAN.Net/ The opportunities and challenges associated with
regional integration and inclusive growth of the Black Sea Region in
this period of economic uncertainty were discussed among policymakers,
government officials, and international development representatives
in Athens, Greece on February 23-24.
Black Sea Region growth has been outstanding, with GDP per capita
having increased at rates of more than 6 percent over 1999 – 2006. This
drove up living standards and reduced poverty for all groups – the
working people, unemployed, pensioners, and children. However, these
developments are currently under threat with the global economic and
financial crisis. Growth is expected to decline substantially in 2009
and perhaps in 2010, mirroring the recession in the OECD and the Euro
Area. Many countries in the region will be affected.
Luca Barbone, Sector Director, World Bank noted that "the impressive
gains in poverty reduction in the Black Sea region achieved over the
past few years are under threat because of the world-wide crisis. The
World Bank will continue to provide enhanced support to the region."
The Black Sea Conference on Regional Integration and Inclusive Growth
was hosted by the Hellenic Ministry of Foreign Affairs and organized
by the World Bank. The objective of the Conference was to promote
better economic integration and provide joint learning opportunities
for participants from the Black Sea countries on issue of strategic
importance to the region.
Dora Bakoyanni, Minister of Foreign Affairs of Greece stated that
"the conference was an opportunity for officials from the Black
Sea Region to learn from each other on how to protect the economic
advancements achieved over the last decade. Greece is pleased it
could help the countries of the region gather to discuss the economic
challenges ahead."
The event brought together approximately 150 policymakers and
senior government officials, parliamentarians, and civil society
representatives from Bulgaria, Armenia, Azerbaijan, Georgia, Moldova,
Romania, Russia, Turkey, Ukraine, as well as representatives from
development partners, and international and regional experts on
economic and social issues.