According to the results of 2015, the economic growth in Eastern Europe and Central Asia can decline, the World Bank (WB) experts say.

If it constituted 2.3 percent in 2014, the analysts expect 2.1 percent due to the fall in oil prices and negative economic impact of Russia, as well as the ongoing conflict in Ukraine. 

On the other hand, former countries of the social camp, importing carbohydrates benefit from the fall in their prices and signs of the economic growth of the Euro Area. 

The Russian economy has been assessed to have decline by 3.8 percent in 2015.

Pursuant to the data, the economic growth of Turkey made up 4.2 percent. The WB experts say the republic has also benefitted from the fall in energy prices: consequently, the production got cheaper and the export increased. 

3 percent growth is expected in the entire region in 2016 against the backdrop of oil price stabilization and improvement of Russian economy. According to the experts, the fall in economic activity in Russia is expected to decrease by 0.7 percent in 2016, but it will pick up in 2017.

 Low oil prices, international sanctions and weak interest of investors, as well as the fall in household consumption remain as the main risks.

The risks for the entire region include the continuation of the conflict in Syria and the flow of migrants to Balkans, as well as the drop in commodity prices and reduction in transfers.