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Economy to grow by end of 2017 in all EDB countries

«All the countries of the Eurasian Development Bank will demonstrate positive economic growth rates by the end of 2017,» EDB chief economist Yaroslav Lisovolik says. The expert’s conclusions are given in the monthly macro review of the bank.

In addition to positive growth rates, we can note a distinct trend towards de-dollarization of the EDB economies, as well as the restoration of real wages and consumption dynamics.

As regional trends, experts call lower inflation levels, restore the level of gold and foreign exchange reserves, reduce key Central Bank rates, stabilize exchange rates and improve ratings and forecasts from major rating agencies.

«The key factor of medium-term stability in the macroeconomic sphere for the EDB countries will be the situation with the budget and the dynamics of public debt. In a moderately tight budget policy, public debt has stabilized. There remain significant global risks that are most dependent on the US due to the possibility of raising the rate of the Federal Reserve System, as well as the uncertainty associated with the economic policy of the Trump administration,» the report said.

With some reduction in the economic vulnerability of the EDB countries, the internal economic risks are gaining more weight for external shocks in the next few years.

Fears of economists cause instability in the banking sector. Including high levels of loans with arrears in Belarus, Kazakhstan and Tajikistan.

Note, the EDB includes Russia, Belarus, Kazakhstan, Kyrgyzstan, Armenia and Tajikistan.