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EBRD Keeps Georgia’s Economic Growth Forecast Unchanged

European Bank for Reconstruction and Development (EBRD) has maintained Georgia’s economic growth forecasts unchanged. According to the May 10 report, Georgia’s economic growth will recorded 3.9% in 2017 and 4.2% in 2018.

According to EBRD report, positive dynamics is expected in eastern Europe and the Caucasus after the 2016 stagnation. However, EBRD forecasts that recession will be continued in Azerbaijan and Belarus. The region’s averaged economic growth will be 1.1% in 2017, down 0.6% compared to 2016.

The Region’s highest economic growth is forecast in Georgia, Moldova comes second with 3%, Turkey – 2.6% and Armenia – 2.5%, Russia – 1.2%, Ukraine – 2%, Belarus and Azerbaijan – 0.5%.