Wednesday, January 10 2018 12:49
Karine Melikyan

The World Bank predicts 3.8% GDP growth of Armenia in 2018 with acceleration up to 4% in 2019

The World Bank predicts 3.8% GDP growth of Armenia in 2018 with  acceleration  up to 4% in 2019

ArmInfo. According to the  forecasts of the World Bank, Armenia's GDP growth in 2018 will be  3.8% with acceleration up to 4% in 2019. This is stated in a report  published recently by the World Bank Global Economic Prospects  Report. The report mentioned  notes  this forecast is predicted by  the fact that in 2017 Armenia demonstrated significant progress  related to  the increase in metal prices and the improvement of  domestic policy.

We note that the previous WB forecast for Armenia envisaged GDP  growth in 2017 for 2.7% with the 3.1% acceleration in 2018 and up to  3.4% in 2019. 

For Europe and Central Asia, the World Bank predicts economic growth  in 2018 by 2.9% with an acceleration to 3% in 2019, compared with  3.8% in 2017. In particular, the GDP growth of Russia according to  the World Bank's forecasts in 2018 will be 1.7% with an acceleration  up to 1.8% in 2019. The World Bank predicts GDP growth in Georgia by  4.2% in 2018, in Azerbaijan - by 0.9%. In the global economy, the  World Bank predicts GDP growth in 2018 by 3.1%, with a slowdown to 3%  in 2019.  It should be noted that according to the updated forecast  of the Central Bank of Armenia, GDP growth in 2018 will be 3.5-4.6%  (against expected in 2017 - 4.4-4.9%), in 2019 - 3.5-4.9% in 2020 -  3,8 - 5,4%. Fitch improved the GDP growth forecast for Armenia in  2017 to 4.3% from the previously stated 3.4%, and sees the  possibility of accelerating growth within the  average of 3.6% in  2018-2019. The budget of Armenia for 2018 assumes  the growth of GDP  by 4.5%.

According to the National Statistical Service of Armenia, in Armenia,  economic activity growth accelerated in January-November 2017 to 7.3%  from last year's 0.6% in 11 months of 2016. Drivers of growth were  trade, services and the industrial sector.

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