ArmInfo.The International Monetary Fund (IMF) has improved its forecast for Armenia's GDP for  2024 from the previous 5% to an updated 6% (versus actual 8.7% growth in 2023), with a slowdown to 5.2% in 2025. This is noted in the IMF World Economic Outlook, April 2024; Steady but Slow: Resilience amid  Divergenc."

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ArmInfo.The Eurasian Fund for Stabilization and Development (EFSD) prepared a new working paper,  "Assessing the Potential Impact of Natural Disasters on Debt Sustainability in Armenia, Kyrgyzstan and Tajikistan."

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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 Asian Development Bank forecasts 5.7% economic growth for Armenia in 2024, with the  rate accelerating to 6% in 2025 Luke Fochtman, Deputy Country Director of ADB (Asian Development Bank )Armenia Resident Mission stated this during a press conference on April 11, presenting the ADO (Asian Development Outlook).

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ArmInfo.The Eurasian Fund for Stabilization and Development (EFSD) has financed a number of projects in Armenia. Another project totaling $100 million is being prepared. The Fund supports the most important, strategic investment areas.

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ArmInfo. It is expected that the development of the Amulsar mine will begin at the end of this year or the beginning of next year.  Babken Tunyan, vice-chairman of the NA Economic Affairs Committee, said on April 3 during the discussion of the project to establish a state duty for the export of gold, platinum and palladium ingots.

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ArmInfo. The World Bank will provide Armenia with a loan of 92.3 million euros and a grant of 16  million euros to finance the budget deficit. The resolution was approved at a government meeting on March 28.

ArmInfo. We want to offer Armenia an alternative logistics route that will significantly reduce  time costs for cargo carriers and which has a competitive price.  President of the "Astana" Diplomatic Club Kaiyrbolat Sakhmetov said in a conversation with an ArmInfo correspondent Within the framework  of the meeting of the business delegation of Kazakhstan with the members of the  Union of Manufacturers and Businessmen of Armenia (UMBA).

ArmInfo.The sharp acceleration in the growth of economic activity in February of this year in Armenia is due to a short-term factor, reads a report by the Luys Foundation, whose experts analyzed the data of the RA Statistical Committee for January-February 2024.

ArmInfo. By February 29, Armenia's public debt, against the backdrop of growing domestic debt, had grown  to another psychological threshold of $12 billion.

ArmInfo. In the banking sector of Armenia, the volume of lending accelerated in growth in 2023 from 13%  to 21%, reaching 5.8 trillion drams ($14.2 billion). But this was not enough to save profits from the decline, which, after a 3-fold jump in 2022, decreased by 9.2% in 2023, amounting to 229.9 billion drams ($567.9 million). This is evidenced by the data of the Financial Rating of Banks of Armenia as of December 31, 2023, prepared by  ArmInfo. 

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.

ArmInfo.

ArmInfo. The economic growth potential of Armenia is at the level of 6%. Acting Deputy Minister of  Economy of Armenia Rafayel Gevorgyan stated during a meeting of the S NA Standing Committee on Economic Affairs, citing an analysis of macroeconomic models over the past 6 years.