Eastern Europe to slowdown even more

Going from bad to worse, Eastern Europe already reeling from a credit crunch and lower demands for their exports have just been hit with more bad news. The forecast for the rest of 2009 sees the slow down continue. The World Bank expects to dish out more money to save Eastern European nations than ever before. It has already shelled out more than 1.3 Billion Euro to Hungary as part of its 25 Billion Euro bailout package. The World Bank expects relief funds to double from 4.2 Billion which it gave last year to 8.4 Billion for the region.

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