EBRD cuts GDP forecast for the 37 countries in its region, sees 3.5% contraction
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LONDON (Reuters) - The European Bank for Reconstruction and Development (EBRD) drastically slashed its economic outlook for the 37 countries in its region on Wednesday, forecasting a contraction of 3.5% this year as a result of a sharp hit to tourism, remittances and commodity prices from fallout from the coronavirus.The EBRD, which tracks trends in 37 countries across Europe, Asia and Africa, gave its updated forecast in its latest semi-annual economic outlook. The expected contraction in gross..