Armenian Economy Minister Vahan Kerobyan said in an interview with CivilLet that the government did not revise its growth forecast for 2022.
The IMF said on March 17 that the regional and global spillovers from the Russia-Ukraine conflict would inevitably have a notable impact on Armenia and the wide-ranging sanctions on Russia, higher food and fuel prices, lower remittances, increased global financial market volatility are expected to widen the current account deficit, lead to a pickup in inflation, and reduce economic growth in the coming months.
Bases on all these factors, the IMF said its preliminary assessment is that the economy could grow at around 1½ percent in 2022—a much slower pace than previously expected.
Armenian government’s growth projection for 2022 is 7%, and inflation is set at 4% (± 1.5%). Last week the Central Bank revised down its earlier growth projection from 5.3% to 1.6% citing the problems triggered by the Russian-Ukrainian conflict.
According to the National Statistical Committee (NSC), in late February 2022 the 12-month inflation was 6.5%. ARKA reports.
