The European Bank for Reconstruction and Development (EBRD) on Wednesday raised its growth forecast for this year in its regions – emerging Europe, Central Asia, and North Africa.
The gross domestic product (GDP) of the EBRD regions, which covers nearly 40 economies, is projected to grow 2.4% in 2023, a 0.2 percentage point upward revision compared to its May forecast, the bank said in a report.
This stemmed from large upward revisions in Türkiye and Central Asia, partially offset by a weaker growth outlook in emerging Europe, it said. Economic growth is expected to pick up to 3.2% in 2024, as inflationary pressures gradually subside.—AA
