Assa-Irada,
10, April 2008

A number of former Soviet republics and Eastern Europe may face slower economic growth soon, a World Bank expert has warned.

The bank's chief economist for Europe and Central Asia, Pradeep Mitra, said Ukraine, Estonia, Latvia as well as Romania and Turkey had already encountered the problem. "The same problem will emerge in Kazakhstan, Poland, Slovakia and Slovenia this year," he predicted.

Mitra said the hikes in food prices will cause increasing poverty in the ex-Soviet states. The value of the minimum consumer basket may rise 50-60% in these countries. The 5% increases in Azerbaijan, Georgia, Moldova and Albania will raise the poverty rate by 2-3%, the expert said.