Countries Of The Region With The Fastest Growing Economies

Countries Of The Region With The Fastest Growing Economies

Based on preliminary assessment, in October, Georgia’s economy grew by 5,7% and average actual growth within the first 10 months of 2017 is 4,9%.

European Bank of Reconstruction and Development is expecting 4,5% economic growth in Georgia this year, which is one of the highest rates in East Europe and Caucasus region. The Bank’s forecast for this year for the countries of the region is as follows:

  • Turkey – 5,1%
  • Georgia – 4%
  • Armenia – 3,5%
  • Moldova – 3%
  • Ukraine – 2%
  • Russia – 1,8%
  • Belarus – 1,5%
  • Azerbaijan – 0,5%

As to the next year, according to EBRD’s forecast, in, expected economic growth for 2018 in East Europe and Caucasus region is 2,7%. Besides, EBRD is expecting the highest economic growth in 2018 in Georgia.

  • Georgia – 4,5% 
  • Armenia – 3,5% 
  • Moldova – 3,5% 
  • Turkey – 3,5%
  • Ukraine – 3%
  • Azerbaijan – 2%
  • Belarus – 2%
  • Russia – 1,7% 

In Central Asia region, in 2018, the highest economic growth of 6,2% is forecasted for Uzbekistan. Forecast for other countries of the region is following:

  • Turkmenistan – 5,1% 
  • Tajikistan – 5%
  • Mongolia – 3%
  • Kirgizstan – 4,1%
  • Kazakhstan – 3,5% 
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