GKI projects slower economic recovery

Figures

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Economic research institute GKI knocked down its projection for next year's GDP growth to 3.7% in a forecast released on Wednesday from 4.5% in one published in September, according to a report by state news wire MTI.

GKI lowered its forecast for investment growth to 4% from 7%. It projects a 5% expansion in the construction sector, well under the earlier forecast growth of 8%.

The institute expects the economy to contract by 6% this year, close to the Finance Ministry's projection for a 6.4% decline in GDP.

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