ArmInfo. Deputy Minister of Economy of Armenia Sevak Mikaelyan received a delegation of the World Bank (WB), headed by the WB Senior Private Sector Specialist Iulia Cojocaru. This was reported by the press service of the economic department.
The parties discussed the report on the assessment of the RA Law on Joint Stock Companies and the current state of the business registry. Among the issues discussed were also issues related to the conceptual document on reforming the legislation on joint stock companies, the action plan for reforming the law on companies, the implementation deadlines, etc.
The World Bank has improved the economic growth forecast for the South Caucasus, increasing the estimated rate in 2024 from the previous 3.5% to an updated 4.6% (versus 3.7% in 2023), emphasizing that this is the highest rate among all subregions of Europe and Central Asia (ECA).
The report on the South Caucasus region notes: "In Armenia and Georgia, economic growth in 2024 will remain significantly above potential levels - 5.5% and 7.5%, respectively (versus 8.3% and 7.5% in 2023), driven by household consumption, investment and government spending. Moreover, the World Bank attributes some slowdown in economic growth in Armenia to the normalization of migration levels, tourist influx and remittances from Russia. In 2025-2026, according to the WB forecast, economic growth in Armenia will slow to 5-4.6%.
