The twelve European economies that are part of the Three Seas Initiative (3SI) are on track to recover the level of Gross Domestic Product (GDP) of 2019 this year, said the managing director of the International Monetary Fund ( IMF), Kristalina Georgieva. The statement was made during an event of the program that encompasses countries in the Baltic, Adriatic and Black Seas region.
The Three Seas economies continue to outpace their Western European neighbors, Georgieva said. The director highlighted that the priority to infrastructure and connectivity are key elements for the resilience of economies. “Investments in infrastructure can significantly increase production,” he said, stressing that correct investments, which take into account low carbon production and a resilient and sustainable growth path, can improve connectivity and accelerate the transition process to the new economy of the climate.
In her speech, the IMF director also reinforced that the pandemic has brought the focus to the value of digital connectivity. “This has always been a priority for 3SI, and it is getting stronger today,” he added. 3SI comprises Austria, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia.
+ Learn about the effectiveness of each vaccine against Covid-19