WB forecasts economic growth in Europe, Central Asia in 2017 (UPDATE)
(Details added, first version posted at 13:31)
Baku, Azerbaijan, Nov. 22
By Anvar Mammadov – Trend:
The World Bank predicts the European and Central Asian countries’ economy to grow by 1.5 percent in 2017, according to the WB report presented in Bucharest Nov. 22.
Rate of economic growth in the region slightly increased from 1.4 percent in 2015 to 1.6 percent in 2016, according to the WB experts.
This tendency will continue in the following years and the economic growth in 2017 and 2018 in the region will be 1.5 and 1.8 percent, respectively, reads the report.
In 2016, economic growth in Eastern Europe and Central Asia is expected to be 0.7 percent of gross domestic product (GDP), while in 2017 and 2018 this figure will be 2.3 percent and 2.6 percent, respectively, according to the WB forecasts.
At the same time, rate of economic growth in the European Union and Western Balkan countries in 2017 will decrease from 1.8 percent to 1.4 percent. However, in 2018 the growth rate will restore, going up to 1.7 percent, according to the report.