ArmInfo.The International Monetary Fund (IMF) has improved its GDP growth forecast for Armenia for 2022 from the previous 1.5% to an updated 5%. This is evidenced  by the Fund's press release received by ArmInfo. The current revised  forecast is presented following the visit of an International  Monetary Fund (IMF) team, led by Iva Petrova to Armenia during June  20-24, 2022. 

ArmInfo. Economist Suren Parsyan, responsible for the economic research office of the ARF Dashnaktsutyun Bureau, calls on the Armenian authorities to take into  account the unemployment rate in the Eurasian five countries before  talking about the "advantages" of the republic compared to other EAEU  member states related to inflation.

ArmInfo.Armenia recorded the lowest inflation among the Eurasian Economic Union (EAEU) member-states this May. 

ArmInfo. Minister of Economy of Armenia Vahan Kerobyan once again expressed his disagreement with the Central Bank of Armenia, referring to the latest forecasts of the  Regulator for economic growth (on14, it was announced 4.9% for 2022,  ed. note). He stated this to journalists on June 15 on the sidelines  of the opening ceremony of the Science and Business Days forum.

ArmInfo.The inflationary environment in Armenia will continue.  On June 13, Chairman of the Central Bank of Armenia Martin Galstyan expressed a similar opinion  during the meeting of the NA Standing Committee on Financial-Credit  and Budgetary Affairs.

ArmInfo.Due to the revaluation of the national currency in Armenia, the exporters of agricultural products, beverages, as well as the tourism sector, the IT sector and  developers suffered the most. Chairman of the Mantashyants  Entrepreneurs Union  Vahram Mirakyan wrote about this on his Facebook  page.

ArmInfo.The World Bank has revised its GDP growth forecast for Armenia for 2022 upwards -from 1.2% to 3.5% (against the 5.7% actually recorded in 2021), revising its  forecast for Russia's economy downward - from 11.2% to 8.95 (against  4.7% growth recorded in 2021), according to the WB Global Economic  Prospects report (https://www.worldbank.org/en/news/press-  release/2022/06/07/stagflation-risk-rises-amid-sharp-slowdown-in-growth-energy-markets). 

ArmInfo.In Armenia, the price rally in food and oil products is spurring inflation acceleration. In May 2022, compared to May 2021, it has already reached 9% (compared to 5.9% in the previous year).

ArmInfo.The Eurasian Development Bank (EDB) forecasts a slowdown in GDP growth in Armenia to 1% in 2022, with an acceleration in 2023 to 3.5%. This is stated  in the baseline scenario of the Eurasian Development Bank, presented  in the EDB Macroeconomic Outlook for its region of operations for  2022-2024.  

ArmInfo. Inflation in the consumer market of Armenia in January- April 2022 amounted to 5.8%, compared to 5.1% inflation in the same period of 2021. According to the RA  Statistical Committee, this was provoked by an increase in the prices  of food products (including alcohol and cigarettes) by 9.7% (against  8.6% a year earlier), non-food products - by 3.3% (against 5% a year  earlier) and tariffs for services - by 3% (against 1.1% a year  earlier).

ArmInfo.In Armenia, economic activity in Q1 2022 increased by 9.6% compared to the same period in 2021 (against a 2% decline in Q1 2020), exceeding even the pre-Covid  6.5% growth in Q1 2019. According to the final data of the RA  Statistical Committee, the agricultural sector lingered in the  decline, while other sectors showed growth, and the service sector  and the energy complex were the main drivers of economic growth.

ArmInfo.Food and energy price shocks due to war in  Ukraine could last for years. Shift to more costly trade patterns has  begun; transition to cleaner energy could be delayed. The war in  Ukraine has dealt a major shock to commodity markets, altering global  patterns of trade, production, and consumption in ways that will keep  prices at historically high levels through the end of 2024, according  to the World Bank's latest Commodity Markets Outlook report.

ArmInfo. In Armenia, economic activity in Q1 2022 increased by 9.6% compared to the same period in 2021 (against a 2% decline in Q1 2020), exceeding even the pre- Covid  6.5% growth in Q1 2019. According to the preliminary data of the RA  Statistical Committee, the agricultural sector lingered in the  decline, while other sectors showed growth; moreover, the service  sector and the energy complex were the main drivers of economic  growth.

ArmInfo.The Armenian economy in 2022 may record regression, despite the indicator set in the y-o-y budget at the level of 7%. This is stated in the report of the  analytical group of the Luys Foundation entitled "On the verge of a  new crisis. Possible impact of sanctions against Russia on the  economy of Armenia."

ArmInfo.At the end of March, inflation in Armenia rose significantly to 7.4%, next month we are likely to see higher inflation again as food and energy prices rise.   Armenian Economy Minister Vahan Kerobyan stated this in an interview  with "Kommersant".

ArmInfo. According to today's calculations, if it is not possible to distribute economic growth among the population, in particular, to increase the incomes of  vulnerable segments of the population, then the poverty rate in  Armenia will increase from 27% to 42%. Minister of Economy of Armenia  Vahan Kerobyan stated this in an interview to the Public Television  of Armenia.

ArmInfo.In the consumer market of Armenia in Q1 2022, 3.5% inflation was recorded against last year's 3.8%. Inflation in Q1 2022 was mainly driven by a 5.8% increase in  food prices and a 2.3% increase in service tariffs, while non-food  prices rose by 1.3%.

ArmInfo. The Central Bank of Armenia (CBA) has revised its GDP forecast for 2022 from 5.3% down to 1.6% (against the actually recorded 5.7% GDP growth last year), with the exports and imports expected to decline by 1.8% and 0.1%  respectively, and inflation to reach 6.6%. 

ArmInfo.Fitch Ratings has affirmed Armenia's Long-Term Foreign- Currency Issuer Default Rating (IDR) at 'B+' with a Stable Outlook.

ArmInfo.