ArmInfo.The Eurasian Development Bank (EDB) forecasts 5.7% GDP growth in Armenia in 2024.
According to the source, at the end of 2023, economic activity in Armenia increased by 9.4%. In January - December last year, the growth in economic activity was mainly provided by the services and trade sectors (+10% and +25.7%, respectively). Industry dynamics (+4.1%) entered the positive zone in the fourth quarter due to an increase in the production of gold jewelry in November - December, which also supported exports (+55% in 2023, and an increase of 2.4 times /y in December). "We expect GDP to increase by 5.7% in 2024," the Bank noted.
According to Fitch Ratings forecasts, in 2024 the Armenian economy will grow by 6%. Moreover, for 2024, the Central Bank of the Republic of Armenia, the IMF, the World Bank and the EBRD predict a slowdown in the growth rate of Armenia's GDP: according to the expectations of the Central Bank of the Republic of Armenia, up to 6.1%, according to the IMF's expectations, up to 5%, according to the World Bank's expectations, up to 4.7%, and according to the EBRD's expectations - up to 4.5%.
The Armenian authorities expect 7% growth in the country's GDP at the end of this year.
