Chinese economy growth to slow to 6.5% in 2017, the World Bank experts say

Almaty. January 11. Silkroadnews – China’s economic growth will slow to 6.5% in 2017, the World Bank experts expect.

“According to forecasts, China is expected to continue with economic growth slowdown at level of 6.5%. At the same time, the overall outlook for emerging markets and developing countries will be clouded of low levels of international trade, investment and weak productivity growth”, release of the World Bank report says.

Growth in Russia is expected to amount to 1.5% for year due to completion of country’s adaptation to a lower crude prices level. Azerbaijan is expected to grow at 1.2%, while in Kazakhstan increase is projected to make 2.2% under stabilization of commodity prices and reduction of economic imbalances. For Ukraine the projected growth is 2%.
As for the advanced economies, the US growth is expected to increase to 2.2% with weak 2016 to be followed by growing industrial production and investment volume.

Growth in the Middle East and North Africa, according to World Bank projections, is expected to raise slightly to 3.1%, with the greatest growth to be observed in the oil-importing countries. For Saudi Arabia 2017 is projected to make 1.6%, while in Iran a further increase in crude production and foreign investment expansion are expected to contribute to growth to 5.2%. The forecast is based on the expected crude price increase to average of $55 per barrel per year.