LONDON (Reuters) - New EBRD growth forecasts for emerging Europe and North Africa, due next week, will "not be good news", the bank's president said on Tuesday.
"It is no secret that it is not going to be very good news," Suma Chakrabarti of the European Bank for Reconstruction and Development said during a speech at an event organised by OMFIF.
The EBRD, the development bank set up in 1991, in January forecast growth of 2.7 percent this year for its region of operation which has been extended from the Communist-bloc countries of eastern Europe to Turkey, Egypt, Morocco, Tunisia and Jordan.
It also operates in Mongolia.
Investors are likely to focus on the EBRD's forecast for Russia's economy which it predicted in January to expand by 2.5 percent in 2014. Aasim Husain, the deputy head of the IMF's European department, has also said Russia's growth outlook was "almost certain" to be cut this week.
(Reporting by Marc Jones; editing by Sujata Rao and Carolyn Cohn)