ArmInfo. Central The Bank of Armenia has left unchanged its economic growth forecast for 2023. As RA Central Bank Chairman Martin Galstyan noted at a press conference on January 31, this year Armenia's GDP growth will be 4.6% and the main drivers will be construction, industry and services.
It should be noted that the World Bank in its forecast for 2023 updated in January this year, expects a slowdown in Armenia's GDP growth to 4.1%, while improving its projected economic growth for 2022 to 10.8%. Back in December last year, the International Monetary Fund projected a slowdown in Armenia's GDP growth to 4.5% for 2023, while improving its projected economic growth for 2022 to 11%. And the Central Bank of the Republic of Armenia, in its December forecast, left unchanged the projected GDP growth of Armenia in 2022 at the level of 12.9%. It is noteworthy that according to preliminary statistics, economic activity in Armenia in January-December 2022 accelerated y-o-y growth to 14.2% (from 5.8% in 2021), exceeding even the pre-Covid 7.8% growth in 2019. The draft state budget of Armenia for 2023 provides for economic growth of 7%.
