World Bank Sees Modest Economic Growth in SEE in 2014 - 2016
Thursday, 16 January 2014
Economic growth in Southeast Europe is expected to be modest in the 2014- 2016 period, data from a World Bank report showed.
"The pick-up in activity will be most marked in the Central and Eastern European economies, where there is currently the most spare capacity," the World Bank said in its Global Economic Prospects January 2014 report. “Despite stronger growth, domestic demand, is expected to remain sluggish due to ongoing banking-sector restructuring and tighter international financial conditions, which will weigh on investment and consumer demand,” it added.
Ongoing or planned fiscal consolidation in some countries in the region will also serve to partly offset the growth impetus from stronger exports, according to the international lender.
For Bulgaria the World Bank projects economic growth of 1.7% in 2014, accelerating to 1.8% in 2015 and 2.0% in 2015.