ArmInfo. The UN improved the forecast for GDP growth in Armenia for 2017 from the previously forecasted 2.7% to 5.8%. This is stated in the report of the Department of Economic and Social Affairs of the United Nations "The Economic Situation in the World and Its Prospects, 2018".
According to the UN report, Armenia's GDP growth in 2018 will be 3.8%, in 2019 - 3.6%. The report also says that inflation in the country in 2017 will be 2.1%, in 2018 will accelerate to 2.9%, in 2019 - up to 3.3%.
The state budget of Armenia for 2017 provides for GDP growth of 3.2%, inflation at 2.4%. In December, the Armenian parliament adopted the state budget of the republic for 2018, which provides for GDP growth of 4.5%. Forecasts of economic growth for 2018 are largely due to the outlined positive dynamics in 2017, as a result of which the Ministry of Finance raised forecasts for economic growth for 2017 from the target of 3.2% to 4.3%.
In 2016, Armenia's GDP growth slowed to 0.2% from 3.2% in 2015, with a GDP growth rate of 2.2% in 2016, laid down in the state budget.
According to the IMF forecast, Armenia's GDP growth in 2017 will be 4% (against forecasted in October of 3.5%), according to the World Bank forecast - 2.7%, with the acceleration of rates in 2018 to 3.1%, in 2019 - to 3 ,4%. According to the forecast of the EDB in 2017, the GDP of Armenia is expected to grow by 2.9%, the Asian Development Bank - by 2.2%. Fitch improved the forecast for GDP growth in Armenia in 2017 from the previous 2.1% to the current 3.4% with an acceleration to 3.6% in 2018. The state budget of Armenia for 2017 laid the GDP growth by 3.2%, with acceleration in 2018 to 4.5%. According to the updated forecast of the Central Bank, Armenia's GDP growth in 2017 will be 4.4-4.9%. According to the National Statistical Service of Armenia, Armenia's GDP growth slowed to 0.2% in 2016 from 3.2% in 2015. In January-October of 2017, economic activity in Armenia increased by 7% (drivers - services, trade, industrial sector), against almost stagnating 0.4% in the same period in 2016.