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GKI raises 2018 growth forecast to 4.2%

Analysis

Economic research institute GKI has raised its projection for this yearʼs GDP growth to 4.2%, up from 4.0% in an earlier forecast this summer, state news agency MTI reported today.

The projection still falls slightly short of the governmentʼs official forecast for 4.3% growth. 

GKI puts industrial output growth at 4% and sees the construction sector expanding by 14%. Investments are set to climb 12%, it adds.

The institute sees retail sales growth reaching 6% and puts gross wage growth at 10%. Real wages are set to grow 7-8%, it predicts. 

The researchers expect economic growth to slow to about 3% next year as the increase in investments and household consumption decelerates.

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