EBRD also revised the country’s economic growth forecast from 3.5% to 3.7% for 2017.
“South-eastern Europe as a whole is on the rise. Greece is turning around thanks to a good season for tourism, and the return of business confidence. Serbia and Romania are pushing up the growth average,” EBRD said in a statement.
According to the report, Russia and Greece are emerging from recession, Turkey will grow at a slower pace in 2016 than in 2015, while Ukraine and Moldova are back in the black.