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The World Bank Annual Report 1998 : Europe and Central Asia

By The World Bank

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Book Id: WPLBN0000189428
Format Type: PDF eBook
File Size: 0.1 MB
Reproduction Date: 2005
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Title: The World Bank Annual Report 1998 : Europe and Central Asia  
Author: The World Bank
Language: English
Subject: Economics, Finance & business, World Bank.
Collections: Economics Publications Collection
Publication Date:
Publisher: The World Bank


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Bank, T. W. (n.d.). The World Bank Annual Report 1998 : Europe and Central Asia. Retrieved from


Fertility rates have plummeted from 2.2 per woman in 1980 to 1.6 in 2004, the lowest rate among developing regions, and just below the average rate in high income countries. More than 11 percent of the population exceeds 65 years of age, and only 20 percent is less than 14 years of age. Between1990 and 2004 average annual population growth was only 0.1 percent and is expected to remain the same over the next decade. As a result, several countries in the region -- Russia and some of the Eastern European countries, in particular -- are experiencing slowing labor force growth, and some may see declines. This trend will place considerable strains on pension fi nances and health care spending. High oil prices boosted growth rates The rising demand for oil has sustained high growth rates in the resource rich countries of the region. Armenia, Azerbaijan, Kazakhstan, and Tajikistan grew at more than 10 percent a year from 2000 to 2004, and Russia?s GDP increased by 6.1 percent per year. The regional average growth rate of 5 percent a year also refl ected progress in Eastern European countries that are entering the European Union. In 2004, regional growth reached 7.2 percent, the best performance in the developing world outside East Asia and the Pacifi c. Growth in national income, after taking into account the terms of trade gains from oil price increases, was even more rapid.


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