Wednesday, April 6 2016 19:07

ArmInfo. International Monetary Fund (IMF) has upgraded its forecast for Armenia's economic growth in 2016 to 2.25-2.5% versus earlier forecasted 2.2%, the newly appointed IMF Mission Chief to Armenia Hossein Samiei stated at today's press conference and added that Armenia's economy growth prevails over the indicators of Caucasus region and Central Asia, for which IMF has forecasted 1-15% growth.

According to her, Armenia's GDP growth rates in 2016 will be little slower compared to the dynamics of last year, but at the same time Samiei expressed hope that this year the implementation of programs aimed at development of economy will improve. In this context he noted that despite a lot of external shocks, which affected Armenia in 2015, the economy managed to demonstrate 3% growth.

To recall, World Bank forecasts a 2.5% GDP growth for Armenia in 2016.  EBRD forecasts economic growth to 2% in 2016. The Central Bank of Armenia has revised its economic growth forecast for Armenia in 2016 from the previous 3.2- 3.9% to 1.6-2.7%, according to the CBA's monetary policy program for Q4 2015. The state budget of Armenia fixed 2.2% GDP growth in 2016. According to the National Statistical Service of Armenia GDP growth in Armenia in 2015 totaled 3% versus 3.5% in 2014.