The World Bank Improves GDP Growth Forecast for Armenia in 2018
The Work Bank forecasts a 3.8% GDP growth for Armenia in 2018, changing the previous projection of 3.1%, Banks.am reports.
“Recovery in Russia and Kazakhstan generated positive spillovers for commodity-importing countries in the region, including Armenia, through remittances and exports,” reads the report.
The World Bank’s experts point out that Armenia has recorded notable advances resulting from reforms in domestic regulations and rising prices in the metal market. The bank’s GDP growth projection for Armenia in 2017 has risen from 2.7% to 3.7%.
According to the report, Armenia will consolidate the economic growth (predicted to reach 4% in 2019 and 2020), in line with firming commodity prices and strengthening domestic demand supported by remittances.
The World Bank makes forecasts for economic growth in other countries of the region as well, projecting 0.9% for Azerbaijan, 1.7% for Russia, 3.5% for Turkey, and 4.2% for Georgia.
Other materials on this subject
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- IMF staff reaches staff-level agreement with Armenia on precautionary Stand-By Arrangement The proposed arrangement will support the government’s economic program to achieve investment-driven, knowledge-based, and export-led growth, while preserving macroeconomic, fiscal, and financial stability...
- Over 1 trillion in taxes paid by 1000 top corporate taxpayers in 9 months The top 1000 corporate taxpayers paid a total of more than 1 trillion 82 billion 627 million drams in the reporting period.
- S&P Global Ratings reaffirms Armenia’s sovereign ratings with "stable" outlook According to the statement, the stable economic growth of Armenia, the decline in geopolitical risks, the strengthening of Armenia’s external position and the slower rate of foreign debt accumulation...
- EBRD Raises Growth Forecast for Armenia’s Economy for 2022 In its latest Regional Economic Prospects (REP), the EBRD said that the economies of Armenia, Azerbaijan and Georgia are enjoying some of their highest growth rates in years.
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