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March 28
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Armenian GDP is projected to decline by 1,5% in 2015, according to the forecast, published today by the  European bank of Reconstruction and Development. The decline looks still harsher against the background of 3,4% growth in 2014. For 2016, EBRD predicts 1,0% growth.

Prospects across the CIS are generally not very optimistic, affected by the impact of the recession in Russia. 

In Ukraine, the GDP is expected to shrink by 7,5%, given the unresolved conflict in the east of the country, the depreciation of national currency, energy tariffs hikes, and restrictions of access to credit.

Georgia and Azerbaijan are expected to fare better than Armenia, with estimations of 2.3% and 1,5% of economic growth respectively.

For Russia itself, the EBRD made a gloomy forecast of -4,5%.

 In Turkey, which last year became the largest single recipient of EBRD investment, growth will remain broadly unchanged at 3 per cent in 2015 and 2016.

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