Despite the economic activity in the first three months of this year the World Bank has not changed its 1.9-2% forecast on the growth of Armenia's GDP, the World Bank's Country Manager for Armenia Laura Bailey stated at today's press- conference.
According to her, in the Q1 2016 Armenia's economy demonstrated more dynamic rates of development compared to the same period of last year. But considering the fact that the first months of the year directly depend on seasonal factors WB cannot forecast GDP growth rates for the country for the remaining months of this year. Laura Bailey noted that WB will follow the situation.
Answering to ArmInfo's question whether drop of gas and electricity tariffs may have possible impact on the growth of economy Laura Bailey noted that drop of prices on energy products will certainly be positive for the consumers. But in the economy the costs on electricity hold rather small share in total expenses of the companies. According to her, the World Bank conducts research of those markets, on which Armenia depends. For example it is quite possible that during the upcoming 3-6 months new trends in relations between Russia and EU will be registered, as a result of which sanctions against Moscow will be lifted. This in turn will improve economic situation in Russia and consequently will have positive impact on Armenian economy. She also recalled that the last year was successful for the Armenian agriculture, which influenced the whole economy of the country. But bad weather in March may have negative impact not only on output of fruits but on the country's GDP as well.
To note, according to the data of National Statistical Service of Armenia economic activity of Armenia increased 5.5% in Q1 2016, amid 26.3% growth of exports and 15.9% decline of imports. In March 2016 versus March 2015, this indicator increased 6.6%. For March alone, it grew 13.8%. A year ago, in Jan-Mar 2015 versus the same period of 2014, the economic activity increased 2.5%, in March 2015 versus March 2014 - 2.1%, and in March 2015 alone - 13.1%. For comparison, in 2014 the economic activity increased 3.3% in Jan-Mar year-on-year, 15.5% in March alone. In Jan-Mar 2013, this indicator increased 8.7% amid 14.6% growth in March alone.