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Raiffeisen Bank International lowers 2016 SEE GDP growth estimate to 3.8%

Raiffeisen Bank International lowers 2016 SEE GDP growth estimate to 3.8% Author: RBI. Licence: All Rights Reserved.

SOFIA (Bulgaria), December 21 (SeeNews) - The economy of Southeastern Europe (SEE) is expected to expand by a real 3.8% in 2016, Raiffeisen Bank International (RBI) said on Wednesday, decreasing its previous projection of 4.0% growth.

The bank affirmed its previous forecast for SEE economic growth of 3.3% in 2017, RBI said in its Q1 2017 Central and East European Strategy report.

RBI describes the SEE region as the area comprising seven countries: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Romania, Serbia and Kosovo.

"Unfortunately, the tendency to give preference to national interests over market economy solutions is becoming noticeable in Eastern Europe as well. Over the short term, this will not jeopardise the robust growth momentum, but the significant benefits associated with the flexibility and deregulation of these markets may diminish over the long term," RBI added.

Details about GDP growth by country in SEE follow (pct):

  2016 GDP fcast 2017 GDP fcast 2018 GDP fcast
Albania 3.5 4.0 4.0
Bosnia&Herzegovina 2.5 3.0 3.5
Bulgaria 3.3 3.0 3.3
Croatia 2.7 2.8 2.8
Kosovo 3.5 3.5 3.5
Romania 4.7 3.6 3.0
Serbia 2.7 3.0 3.0
SEE region 3.8 3.3 3.1

(Source: RBI)




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