ArmInfo.The European Bank for Reconstruction and Development (EBRD) has improved its GDP growth forecast for Armenia for 2024 from the previous 4.5% to an updated 6.2% (versus actual 8.7% growth in 2023), expecting a slowdown to 4.8% in 2025, according to the Bank's latest Regional Economic Prospects. "Taming inflation"  report, published today.

ArmInfo. Armenia faces a number of challenges that relate to the threat of conflicts, climate change,  private sector development, logistics and public administration. This is stated in the World Bank Beyond Boundaries - Unlocking Potential for a Sustainable Tomorrow report which was presented by World Bank  Senior Specialist Lea Hakim.

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ArmInfo.The World Bank has improved its forecast for Armenia's GDP growth for 2024 from the  previous 4.7% to an updated 5.5% (against the actual slowdown in growth in 2023 to 8.7% from 12.6% in 2022). For 2025, the economic growth forecast has also been improved, but less noticeably - from the previous 4.5% to an updated 4.9%. Over the medium term, GDP growth will gradually approach the potential 4.5%, and average  inflation will rise to the targeted 4%.

ArmInfo.The Central Bank of Armenia (CBA) forecasts GDP growth of 5.3% or 6.4% for 2024 - up to  10.4-10.5 trillion drams (against 8.7% growth - up to 9.5 trillion drams in 2023), depending on the formation in the economy or high or low inflation environment. In 2025, according to the Central Bank's forecast, GDP growth will accelerate slightly to 5.7-6.7%, reaching a value of 11.4-11.7 trillion drams.

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ArmInfo. According to the EBRD-prepared report "Regional Economic Prospects in the EBRD  Regions", in 2023, economies in Eastern Europe and the Caucasus have been adjusting to the extreme shock to their economies caused by the war on Ukraine. 

ArmInfo.  According to the  Macroeconomic Outlook by the Eurasian Development Bank (ADB), this  June saw a 0.5% price reduction in Armenia against a 1.3% price rise  this May. 

ArmInfo. According to a revised  forecast by the Central Bank of Armenia (CBA), 6.9% GDP growth is  expected this year against the previously forecast 5.8% (against the  actual 12.6% growth in 2022), with a further slowdown to 5.5% in  2024. 

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ArmInfo.The IMF Executive Board completed the first review under the Stand-By Arrangement (SBA) with  Armenia, providing the country with access to about US$24.5 million.

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ArmInfo. The World Bank has improved its forecast for GDP growth in Armenia for 2023 from the  previous 4.1% to the updated 4.4% (against the actual 12.6% growth in 2022), expecting an acceleration in 2024 to 4.8% and up to 5%. in 2025). This is noted in the WB's Flagship Report on Global Economic Prospects for June 2023.

ArmInfo. The European Bank for Reconstruction and Developmemnt (EBRD) has improved the GDP growth  forecast from 4% to 5%, with the same GDP growth rate expected in 2024 (against the previously forecast 4.8%), according to the EBRD Regional Economic Prospects in the EBRD Regions. High inflation weighs on purchasing power of households."

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ArmInfo.The International Monetary Fund (IMF) has improved its 2023 forecast for Armenia's GDP growth from the previous 4.5% to an updated 5.5% (against the actual  12.6% growth in 2022). The Fund also revised its expectations for inflation to 5.5% instead of the previously indicated 6% (from inflationary 8.3% for 2022).

ArmInfo.The growth of the Armenian economy in 2023 will be 6.5%, followed by a slowdown in 2024 to 5.5%, depending on the factors of internal and external demand.  This is stated in the Asian Development Outlook of the Asian  Development Bank (ADB), on the economies of the Asia- Pacific region.    In particular, the report notes: "Despite headwinds, the economy grew  strongly in 2022 on rapid expansion in consumption and services  reflecting an influx of people and capital from the Russian  Federation. Fiscal and current account deficits narrowed, but  inflation accelerated. Growth is expected to moderate in 2023 and  2024 as stimulus from inflows of capital, people, and firms from the  Russian Federation wanes. Inflation is expected to moderate, and the  current account deficit to widen slightly. Strengthening education is  critical for inclusive and sustainable growth."

ArmInfo. For 9 months of 2022, the net inflow of mutual direct investments increased in all EAEU member states, except for Kazakhstan.

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