- Monthly Report
20 Apr 2017
by Igal Magendzo
The latest economic activity data are discouraging, with growth at only about 1% in February, and manufacturing production and real retail output negative, y/y. Though lending to the private sector rebounded in March, banks in Q1 saw a deterioration in the conditions for lending supply and demand.
GDP growth expectations fell in April and, according to the Central Bank’s Survey of Experts, the median expected growth for 2017 fell for the third consecutive month. Yet experts seem more optimistic about H2 than before.
The labor market is leaving its 2016 resilience behind. In the December 2