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Financial Inclusion (Inglês)

With slowing global growth and increasing uncertainty clouding the global economic prospects,the Europe and Central Asia region faces a more challenging context than previously envisioned.Growth in the emerging markets and developing economies in the region slowed to 3.1 percentin 2018 and is projected to decline to 2.1 percent in 2019. What challenges does the region face inthe coming year? What are some of the risks to the macroeconomic outlook? In the long run, howshould policy makers design policies that boost growth and help individuals and firms adjust tothe interplay between globalization and technological change? In the global context, this updatesummarizes the recent developments and outlook for the region. It also focuses on financial inclusion, as one of the important policy areas that can promote long-term growth, reduce poverty, and enhance resilience to shocks. The aggregate growth figures mask the diversity of performance across the region. Regional growth was hindered by marked weakness in Turkey amid substantial financial market stress despite strong growth in other parts of the region, such as Central Europe, the Western Balkans, the Russian Federation, and Central Asia. Regional growth is expected to pick up modestly in 2020–21, as a gradual recovery in Turkey offsets moderating activity in Central Europe. Key external risks to the region are spillovers from weaker-than-expected activity in the euro area, as well as the escalation of global policy uncertainty, particularly in trade. Renewal of financial pressures in Turkey, combined with possible contagion to the rest of the region, could also disrupt growth in the region. The possibility of sharp declines in energy prices presents a downside risk to the region’s energy exporters, such as Azerbaijan, Kazakhstan, and Russia.


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  • País

    Europa e Ásia Central,

  • Região

    Europa e Ásia Central,

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    Financial Inclusion

  • Palavras-chave

    financial inclusion; access to financial service; increasing labor force participation; female labor force participation; total factor productivity growth; Public and Publicly Guaranteed; account ownership; financial system; financial market; oil price; aging population; global financial crisis; industrial production growth; trade and investment; gross domestic product; financial sector development; access to finance; global economic prospect; persistent income inequality; global value chain; foreign direct investment; consumer price inflation; rising sea levels; current account deficit; aggregate growth; balance of payment; bank of england; increase in debt; domestic capacity constraint; european central bank; international energy agency; pay in cash; consumer price index; privileges and immunity; natural gas pipeline; national income account; family and friends; cost of remittance; value added tax; personal income tax; power purchasing agreement; formal financial sector; regulation and supervision; targeted social assistance; gdp growth rate; barrels per day; tariff on import; impact of trade; risk management service; tariff import; global oil supply; financial market development; Corporate Debt Restructuring; international bond market; private sector debt; commodity price forecast; access to mobile; classification of country; current account surplus; stock market index; tight monetary policy; growth in trade; domestic demand; advanced economy; policy uncertainty; global growth; regional growth; working-age population; Gender Gap; mobile money; market price; Fiscal Stimulus; goods trade; policy option; downside risk; export orders; foreign currency; country forecast; poverty alleviation; econometric model; energy price; financial pressure; productivity gain; agriculture sector; Business Climate; long-term growth; energy exporter; global context; global policy; housing price; rising inflation; agricultural commodity; forecast horizon; country classification; poverty trap; occupational choice; global economy; natural disaster; export growth; Financial Stability; expenditure component; high tariff; pension payment; commodity exporter; trade dispute; geopolitical risks; trading partner; private investment; formal saving; inclusive growth; capital outflow; prosperous aging; Golden Aging; macroeconomic monitoring; net export; national account; accounting framework; portfolio capital; economic sanction; solid contribution; exchange rate; Labor Market; net oil; Exchange Rates; frequency indicator; population data; fiscal data; macroeconomic forecast; extreme poverty; productivity slowdown; open access; government payment; variable cost; social transfer; savings account; nutritious food; payment system; smooth consumption; financial risk; high share; financial technology; empirical literature; wage earner; marginal productivity; financial exclusion; unexpected expenditure; domestic activity; accelerating growth; business opportunity; greater access; deficit finance; promoting growth; demographic trend; high frequency; investment growth; vulnerable people; government guarantee; bank holding; financial disruption; asset quality; fertility rate; banking system; International Trade; variable rate; debt security; debt securities; annual investment; Demographic Transition; business environment; Technology Transfer; population decline; sectoral reallocation; oil field; constant price; Job Creation; political stability; managing risk; copper price; pool resource; human capital; skilled labor; childcare services; supply chain; domestic reform; sustainable way; technology absorption; gold production; forecast period; corporate governance; volatile capital; international investor; coastal infrastructure; fish stock; water level; surface evaporation; fiscal transfer; oil production; simple average; technological change; important policy; ample opportunity; percent change; financial stress; contagion effect; trade tensions; existing tariffs



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