Estimations of Armenia’s Economic Growth are Pretty Solid: World Bank
According to the World Bank’s Global Economic Prospects January 2020 report the estimations of Armenia’s economic growth are pretty solid at this stage, Armenpress reports.
"According to the World Bank Global Economic Prospects (#GEP) January 2020 report, growth in the South Caucasus is forecast to decelerate, however estimations of Armenia’s economic growth are pretty solid at this stage. In particular, the forecast of growth for 2020 is 5.1%, while for 2021-2022 – 5.2% accordingly", the report says.
According to the report "firming growth in the South Caucasus, to an estimated 3.7 percent in 2019, was supported by private consumption, and on the supply side by strong manufacturing growth, as well as by a recovery in mining production in Armenia".
Regional growth is expected to firm over the forecast horizon, to 2.6 percent in 2020 and 2.9 percent in 2021-22, on the assumptions that key commodity prices and growth in the Euro Area stabilize, and that Turkey’s economy recovers from earlier financial pressures and Russia firms on the back of policy support (Figure 2.2.2.A). Considerable variation across economies is expected to continue. Economies in Central Europe are anticipated to slow as fiscal policy support wanes and demographic pressures persist, while those in Central Asia are projected to continue growing at a robust pace, and more rapidly than previously envisaged, on the back of structural reform progress, the report said.
- Armenian Tax Revenues Decrease by AMD 17.6 Million in 1st Half of 2020 In the first half of 2020, the SRC rendered tax revenues of AMD 680.3 billion.
- Armenian Parliament Approves 2019 State Budget Performance Annual Report Earlier today head of the opposition Bright Armenia faction Edmon Marukyan informed that they would vote against the report.
- IMF to Provide $ 248.2 Million to Armenia to Fight COVID-19 Consequences As a result of talks with the IMF representatives, an agreement was reached on the use of the funds as direct budget support to finance socio-economic consequences.
- US State Department: Armenia met minimum requirements of fiscal transparency for 2020 Two other neighbors of Armenia, Russia and Iran, are not included in the report.
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