In the World Bank’s latest “Doing Business” report about half of the Eastern European and Central Asian countries included in the global ranking were in the top 50. The World Bank report confirms what the international development community know already, that this region is leading the way in economic growth. The economies of Eastern Europe and Central Asia have recorded spectacular growth, bolstered by ambitious economic, market and public-sector reforms. It is important to discuss how these economies can sustain this progress. To maintain this growth momentum in meeting the United Nations Sustainable Development Goals (SDGs) by 2030, leaders from these countries should address three key issues.

Firstly, the region’s economies need to be strengthened to incentivise smarter, more sustainable growth. For example, fossil-fuel subsidies should be reconsidered, as they discourage investment in energy-efficiency projects and the transition to a low carbon economy. Secondly, respect for human rights must be respected. To prevent conflict and protect the region’s marginalised groups, tolerance and respect for human rights must be made essential ingredients of governance. Thirdly, the region must coordinate on strategies to address the changes that artificial intelligence and automation of jobs will bring to the labour market.

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