European Bank for Reconstruction and Development lowers growth forecast for region’s economies to 2.8% in 2024

The European Bank for Reconstruction and Development (EBRD) has revised its growth forecast for the economies of the countries where it implements its programs to 2.8% in 2024 and 3.5% in 2025. This is stated in the EBRD report on the state of the region’s economy.

The GDP of the countries of Eastern Europe and the Caucasus (Azerbaijan, Armenia, Georgia, Moldova and Ukraine) is estimated to grow by 3.7%, after 4.4% growth in 2023. In 2025, the bank predicts growth of 4.1%, which is 0.8% lower than the previous forecast.