The European Bank for Reconstruction and Development lifted its economic forecasts for 2018 citing strong investment and higher exports. According to Regional Economic Prospects, the EBRD economies will grow 3.3 percent this year instead of 3 percent projected in November. Nonetheless, this was slower than the 3.8 percent growth estimated for 2017 due to lower rates of productivity growth in advanced and emerging economies. Growth is forecast to decelerate further to 3.2 percent in 2019. The bank cautioned that the forecast was subject to several risks. The EBRD observed that a substantial rise in corporate debt levels was a source of concern.