In the European Union, recovery is being sustained, with 2017 and 2018 likely the fourth and fifth consecutive years in which growth will average almost 2%. In Central Asia, activity is rebounding after the fall in oil prices at the end of 2014. In the South Caucasus, near-term growth prospects are much weaker than in the western part of the ECA region. After a 2.2% contraction in 2016, no growth is expected this year, and growth of just 1.6% is projected for 2018. Read more...