Baku. 22 November. REPORT.AZ/ Minor growth of GDP will be recorded in Europe and Central Asia (ECA) this year.
Report informs based on World Bank’s (WB) Europe and Central Asia Overview.
WB thinks that low prices for oil and other commodities, low investment grades in European Union and conducted structural reforms obstruct economic growth and stipulate populism and polarization: “1.6% growth was recorded in the region in 2016; previous year the figure was slightly over 1.4%. Consequently, we expect 1.5% and 1.8% growth in 2017-18 years respectively”.
According to report, economic growth in Eastern Europe and Central Asian region is expected to be 0.7% in 2016, 2.3% in 2017 and 2.6% in 2018. At the same time, forecasts for European Union and Western Balkans countries are 1.8% growth in 2016, 1.7% in 2017 and 1.7% in 2018.