Thursday, October 10 2019 12:57
Karine Melikyan

According to the new WB forecast: in Armenia, the current account  deficit to GDP ratio in 2019-2021 will decrease from 7.2% to 6.3%

According to the new WB forecast: in Armenia, the current account  deficit to GDP ratio in 2019-2021 will decrease from 7.2% to 6.3%

ArmInfo. According to the World Bank, the ratio of the current account deficit to the GDP of Armenia in 2019 will reach 7.2%, and the updated forecast for the next two  years provides for a decrease - in 2020 to 6.6% and in 2021 to 6.3%.  This is noted in the WB economic report published on October 9,  "Migration and brain drain. Updating the forecast for GDP growth in  Europe and Central Asia" (Migration and Brain Drain. World Bank  Europe and Central Asia Economic Update).

In the previous March forecast of the World Bank, expectations on the  ratio of the current account deficit to the GDP of Armenia were less  restrained: 8.6% in 2019 and 8% in 2020.

The ratio of the current account deficit to the GDP of Armenia  expected for 2019 is less than 9.1% actually recorded in 2018, but  exceeds the actual 2.4% in 2017. According to the World Bank, in  2018, the absolute value of the current account deficit was expected  to be $ 1.018 billion, but the actual indicator was higher - $ 1.131  billion, jumping 4 times year on year (from the actual $ 279.7  million in 2017).

It should be noted that the statistics on the current account of  Armenia for 2018 are published quarterly two months after the end of  the reporting period. In particular, the statistics committee  published data on this indicator for 2018 in March 2019 in a report  for January-February. Statistical data on the absolute value of GDP  is also published quarterly, after a maximum of 60 days after the end  of the reporting period, in particular, the absolute value of GDP at  the end of 2018 was published at the end of February 2019. 

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