Growth in the EBRD region averaged 1.8% in 2016, broadly in line with projections made as far back as May 2015.
Average growth is expected to pick up to 2.4% in 2017 and 2.8% in 2018. The outlook for growth in 2017 is largely unchanged compared with our last forecast in November 2016.
The differences in economic outlook between the East and in the West of the EBRD region have narrowed.
Economic policy uncertainty increased as the new administration took office in the United States following the November 2016 presidential elections and the United Kingdom served the official notice of intention to exit from the European Union (“ Brexit”), with a two-year countdown starting on 29 March 2017.
Source: Republic of Turkey Ministry of Economy
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