22:03 GMT +306 December 2019
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    World Bank Forecasts Flat GDP in Eastern Europe, Central Asia in 2016

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    According to World Bank reports, GDP in Eastern Europe and Central Asia is expected to show almost no growth during 2016.

    KIEV (Sputnik) GDP in Eastern Europe and Central Asia is expected to show almost no growth during 2016, the World Bank said Thursday in a report.

    "Following double-digit terms-of-trade losses, in addition to a GDP contraction of 1.1 percent in 2015, GDP in Eastern Europe and Central Asia is expected to show practically no growth in 2016," the Impact of China on Europe and Central Asia report reads.

    Meanwhile, growth in the European Union and the Western Balkans is expected to stabilize at 1.8 percent in 2016, with GDP growth of over 3 percent in Central Europe and Western Balkans next year, according to the document.

    On Wednesday, the World Bank predicted Russia’s GDP to contract 1.9 percent this year, but increase by 1.1 percent in 2017.


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