Following a strong recovery after the onset of the COVID-19 pandemic, growth in the European Union (EU) is expected to sharply decelerate in 2023 as high inflation and increasingly tight monetary policy dampen economic activity. Despite considerable resilience, the EU economy is in a weakened...

This report forms part of the World Bank's technical assistance project undertaken with the European Commission's Directorate-General for European Civil Protection and Humanitarian Aid Operations (DG ECHO) and financed under the Union Civil Protection Mechanism (UCPM) Annual Work Program 2020....

Although global economic activity is recovering and output in Europe and Central Asia (ECA) is expected to grow in 2021, containing COVID-19 remains a challenge in the region. Enterprise survey data for the emerging and developing countries in the region show that COVID-19 had a profound and...

This report forms part of the World Bank's technical assistance project undertaken with the European Commission's Directorate-General for European Civil Protection and Humanitarian Aid Operations (DG ECHO) and financed under the Union Civil Protection Mechanism (UCPM) Annual Work Program 2020....

This report presents an analysis conducted by the World Bank to assess macro-fiscal impacts of earthquakes and floods in European Union (EU) Member States (MS), analyze the financial instruments in place to manage this risk and identify any associated funding gaps. The analysis is underpinned by...

In February 2022, the world was shocked by the Russian Federation's invasion of Ukraine. The war is having a devastating impact on human life and causing economic destruction in both countries, and will lead to significant economic losses in the Europe and Central Asia (ECA) region and the rest...

In 2018, the World Bank launched the Human Capital Index (HCI), which is designed to highlight how improvements in current health and education outcomes will shape the productivity of the next generation of workers. The HCI measures the amount of human capital that a child born today can expect...

The report presents the results of macro-simulations of the consequences of different excise policy scenarios for 2018-2021 in two EAEU countries, Russia and Kazakhstan. Three scenarios are considered: (a) the low-taxation harmonization level and rate of growth proposed by the Eurasian Economic...

The 2008 crisis marked the beginning of a lost decade for many countries - and many people - in the European Union (EU). The crises of 2008 and 2012 halted, and in some countries undid, a decade of growth and economic convergence across the EU. This report argues that the economic shocks...

The Europe and Central Asia (ECA) Education Team's vision is for education systems to empower all to reach their full potential. In line with this vision, the purpose of this guidance note is to provide recommendations and policy advice for decision-makers on potential education responses to the...