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Financial News: EBRD Lifts Growth Outlook For 2018

EBRD Lifts Growth Outlook For 2018

05/09/2018 - 07:17:00 (RTTNews)

(RTTNews) - The European Bank for Reconstruction and Development raised its economic forecasts for 2018 citing strong investment and higher exports.

According to Regional Economic Prospects, released Wednesday, the EBRD economies will grow 3.3 percent this year instead of 3 percent projected in November.

Nonetheless, this was slower than the 3.8 percent growth estimated for 2017 due to lower rates of productivity growth in advanced and emerging economies.

Growth is forecast to decelerate further to 3.2 percent in 2019.

The bank cautioned that the forecast was subject to several risks. The EBRD observed that a substantial rise in corporate debt levels was a source of concern.

Growth in central Europe and the Baltic states was expected to moderate gradually, from 4.3 percent in 2017 to 3.8 percent in 2018 and 3.3 percent in 2019.

In south-eastern Europe, growth momentum is expected to ease but remain strong overall, with average growth declining from 4.1 percent in 2017 to 3.6 percent in 2018 and 3.5 percent in 2019.

Meanwhile, growth in eastern Europe and the Caucasus is forecast to accelerate to 3 percent in 2018 and 3.3 percent in 2019.

In Central Asia, growth is seen moderating from 4.8 percent in 2017 to close to 4.5 percent in 2018 and 2019.

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