Black Sea Region's Economic Recovery Offers Hope for Sustainable Development
The Black Sea region includes countries with different economies and challenges. In the 1990s, the region had unstable economic performance, but recently it has seen growth and positive changes. However, the labor market and social conditions are still tough. The countries in the region have low integration due to economic and political factors. The outlook for these countries is good, with potential for over 5% GDP growth. To achieve lasting economic development, they need to focus on economic policies, institutional reforms, and improving the investment climate. More cooperation between countries and with the EU would be beneficial, but it requires changes in policies, trust-building, resolving conflicts, and cooperation between Russia and the EU.