The GDP growth rate in 2018 will amount to 4.8 percent y/y against previously anticipated 5 percent, while in 2019 will be equal to 3.5 percent (compared to 3.7 percent expected earlier), according to Credit Agricole.
Analysts stated that Q1 2018 was the peak of the current economic growth cycle. In the subsequent quarters they expect the GDP growth rate to continue to reach relatively high levels. However, it will be in a gentle downward trend, the report found.
Private consumption will remain the main driver of economic growth in the near future, the report also stated.