The global financial crisis that began in late 2008 has set back ambitious infrastructure development plans among many countries in Europe and Central Asia (ECA). Many such plans relied on Public-Private Partnerships (PPP) arrangements. Furthermore, the financial crisis resulted in sharp declines in gross domestic product (GDP) and country's deteriorating fiscal space restricted the scope for maintaining the level of investment or introducing counter-cyclical measures driven by public sector investment in infrastructure. Soaring levels of public debt, limited room to cut expenditures, and...
The global financial crisis that began in late 2008 has set back ambitious infrastructure development plans among many countries in Europe and Central...
