Growth in 29 Eastern European and ex-Soviet countries will slow down in 2007 after reaching record levels in 2006 but still remain strong, the European Bank for Reconstruction and Development (ERBD) said on May 21.
The growth, estimated at 6.9% for 2006 -- its best level since 1995 -- will slow to 6.5%, according to a report from the EBRD published on the sidelines of a two-day ministerial meeting in this Russian town.
Russia will continue to drive the region this year, with 6.9% growth, up from 6.7% last year. Azerbaijan, in the midst of an oil boom, will continue to strike double-digit growth figures at 25%, after 34.5% in 2006, the ERBD said.
Copyright Agence France-Presse, 2007