In 2017, the Eurasian Development Bank member economies adapted to negative external developments and embarked onto a trajectory of economic growth, says the quarterly Macroeconomic Review published by the bank.

EDB analysts forecast positive economic growth in the Bank’s member states and a 2.2% increase in the region’s GDPs in 2018.

In Armenia GDP is expected to rise by 3%, Belarus 2.6%, Kazakhstan 3.7%, Kyrgyzstan 4.2%, Russia 2%, and Tajikistan 7.3%.

The record-low inflation rate achieved in 2017 (an average of around 3% for the region) is forecast to increase to 4% in 2018 but will remain within the targets set by the central/national banks. In Armenia inflation is expected at a level of 3.4% (year-on-year in December), Belarus 6%, Kazakhstan 5.8%, Kyrgyzstan 4.7%, Russia 3.8%, and Tajikistan 6.1%.