The World Bank forecasts Russia's economy will grow by 1.7% this year and next, and by 1.8% in 2019.
The World Bank forecasts Russia's economy will grow by 1.7% this year and next, and by 1.8% in 2019.

World Bank Upgrades Growth for Europe, Central Asia

Turkey showed remarkably strong GDP growth after the global financial crisis, largely because of effective fiscal stimulus

World Bank Upgrades Growth for Europe, Central Asia

The economy in Europe and Central Asia will grow 2.2% in 2017, said the World Bank in its annual report for 2017.
The Russian economy has overcome the recession and returned to moderate growth this year, according to the latest report from the World Bank.
“The countries of Central Europe and the western part of the Balkan Peninsula continue to record steady GDP growth, while Russia and Belarus have emerged from the recession,” said the bank in its report on European and Central Asian economies, news outlets reported.
It explained the Russian economy was supported by higher oil prices and macro stabilization. The World Bank forecasts the economy will grow by 1.7% this year and next, and by 1.8% in 2019.
“Structural reforms are required for the improvement of the Russian economy’s long-term growth.”

Economic growth in Turkey is projected to grow 4% in 2017, up from the bank's previous estimate of 3.6% since April. "Turkey showed remarkably strong GDP growth after the global financial crisis, largely because of effective fiscal stimulus," the report said.
"The country performed a strengthening growth in the first half of 2017 that leads to higher expected growth than in other parts of the Europe and Central Asia region," it added.
The bank also revised Turkey's growth forecast for 2018 to 3.5%, down from 3.9%.

The World Bank predicts acceleration in the growth of the Bulgarian economy to 3.8% in 2017 and 3.9% in 2018 next year. The main driver of growth is rising domestic demand.
Good data on exports, consumption and the labor market in the first half of the year led most analysts to revise their forecasts for the development of the Bulgarian economy this year.
In the autumn forecast, the ministry of finance is counting on GDP growth of 4%. The expectations of the IMF are the economy to grow by 3.6% and in 2018 by 3.2%. For 2016, growth was 3.4%.

Azerbaijan, which suffered from cheap oil price, is expected to face economic lag this year. According to the bank, the GDP dropped 1.3% in Azerbaijan in the first half of 2017. Annual inflation made up 13.9%, which is connected with increase of tariffs of power energy, water and gas.
In spite of rise in oil price, the economy will weaken 1.4% in 2017. The GDP will grow 0.9% in 2018. The World Bank forecasts 1.5% economic growth in 2019. Moreover, the bank says inflation will be 11.2% this year, 5% and 4.9% in the next two years.

Polish economic growth will accelerate to 4% this year from 2.7% in 2016, the World Bank forecast said. But next year, the Polish economy is likely to slow “due to lower economic activity in Europe” and labor shortages on the domestic market.
Economic growth at 4%, fiscal deficit below 3%, and inflation under control–all of this means that the Polish economy is in good shape, the report said.

The World Bank said it has lifted its projection for Montenegro's economic growth in 2017 to 4.2%, 0.9 of a percentage point higher than the forecast in its June 2017 Global Economic Prospects Report.
Montenegro's gross domestic product is expected to grow by 2.8% in 2018 and 2.5% in 2019, the report said. "After slowing in 2016, growth increased in 2017 due to the surge in investment and tourism. Despite employment rise and unemployment rate decline, labor force participation rate remains low. Poverty is estimated to have declined in 2016, as social transfers surged," the World Bank said.

The World Bank affirmed its growth forecast for Croatia's economy at 2.9% this year, while boosting slightly its previous forecast for 2018 to 2.6% on the back of personal consumption and exports led by strong tourist performance.
In June, the lender predicted Croatia's economy would expand by 2.5% in 2018. The World bank also lifted its forecast for Croatia's 2019 economic growth to 2.8% from a June estimate of 2.6%, it said.

The World Bank said it has raised its forecast for Kosovo's economic growth in 2017 to 4.1% from 3.9% projected in June.
“Growth projected at 4.1% in 2017 and 4.2% in 2018 will be driven by growing consumption, and public investment,” it said.

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