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.

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ArmInfo. At the end of 2023, Armenia will register the second largest economic growth among the  EAEU countries, but at the same time the lowest inflation. This is the forecast of Eurasian Development Bank (EDB) analysts, which is included in the  Macroeconomic Outlook of 6 EAEU member countries published today.

ArmInfo.Speaking at the presentation of the International Monetary Fund (IMF) report  "Ensuring Macroeconomic Stability in the Caucasus and Central Asia in  the Conditions of Ongoing Uncertainty" in Astana, Deputy Governor at  Central Bank of Armenia Armen Nurbenkyan mentioned three key factors  ensuring the growth of Armenia's economy last year.

ArmInfo. The scenario of the planned monetary policy (MP) of the Central Bank of RA envisages a rapid  decline in y-o-y inflation, which will be below the target level in the near future, and will stabilize at the target level of 4% in the medium term. Head of the Central Bank of the Republic of Armenia Martin Galstyan stated on May 2 during a press conference, presenting the rationale for the regulatory decision to keep the refinancing  rate at the level of 10.75%.

ArmInfo."Certain processes in the service sector lead us to believe that we have not yet won a  final victory in the fight against inflation," Governor of the Central Bank of Armenia, Martin Galstyan said during a press conference today.

ArmInfo. In March of this year, a  new high of registered jobs was recorded in the history of the Third  Republic, RA Prime Minister Nikol Pashinyan said at a government  meeting on April 27.

ArmInfo. As a result of the stabilization of food prices, in the consumer market of Armenia in March 2023, compared to March 2022, inflation decreased to 5.4% (from  7.4% a year earlier). In Q1 2023 also, inflation was lower than last  year's quarterly level of 0.8% against 3.5%, which was also the  result of the stabilization of food prices and the reduction in the  cost of non-food products. 

ArmInfo. Russian resettlers, whose number in Armenia, according to various sources, is estimated from 80 to 100 thousand people, not only contributed to high "statistical" economic growth and low "estimated" inflation in the country, but also made it possible to significantly strengthen the resources of the Armenian banking system.  However, Armenia, having benefited from both people and capital, has appeared under the powerful sanctions lens of the Western countries, which is seriously concerned about the possibility of circumvention of anti-Russian sanctions by countries friendly or neutral to Russia. Armenian banks were immediately warned that they must strictly follow the international regulations against the legalization of proceeds from crime (money laundering) and put up serious barriers to clients' attempts to circumvent anti-Russian sanctions in the course of trading activities.  By and large, by March last year, Armenian banks were not ready for such a turn, and therefore they began to actively implement the so-called compliance control and its tough “barrier” tools.

ArmInfo.

ArmInfo. The services sector remains the main driver of economic growth in Armenia.  Inflation remained unchanged  in February. The negative balance of merchandise trade declined against the backdrop of faster growth in the value of exports over  imports. The course of dram has risen. This is stated in the March "Macro Review", prepared by analysts of the Eurasian Development Bank  (EDB).

ArmInfo.The Eurasian Development Bank (EDB) forecasts 7.2% inflation in Armenia by the end of the 1st quarter of  this year. This February, 8.1% inflation was recorded in Armenia - no change as against this January. 

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ArmInfo. Head of the economic research office of the ARF Bureau, economist Suren Parsyan suspects  the Armenian State Revenue Committee of protectionism towards "Yerevan City".

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ArmInfo.Haykaz Fanyan, director of the Modex consulting company, warns of the danger of a repetition of the "South Korean scenario" in Armenia and calls on the  authorities to "blow off" the mortgage bubble in the real estate  market.

ArmInfo.Fitch Ratings has revised the Outlook on Armenia's Long-Term Foreign-Currency Issuer Default Rating (IDR) to Positive from Stable and affirmed the IDR at  'B+'. This is noted in the Fitch report, which also provides an  improved estimate of Armenia's GDP growth for 2022 to 11.6%, with a  further slowdown in 2023 to 6.1% and in 2024 to 4.7%.

ArmInfo.RA  Prime Minister Nikol Pashinyan took part in the extended-format session of the Eurasian Intergovernmental Council in Almaty, the press service of  the RA Premier reports.

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ArmInfo. Inflationary pressure emanating from international commodity markets is easing at this stage.  Chairman of the Central Bank of the Republic of Armenia  Martin Galstyan announced this on January 31 during a press  conference.