The International Monetary Fund (IMF) has released its World Economic Outlook report, maintaining its forecast for Armenia’s economic growth in 2024 at 6%.
However, the growth projection for 2025 has been revised downward from 5.2% to 4.9%.
According to the report, Armenia’s inflation rate is expected to stand at 0.2% by the end of 2024, rising to 3.1% in 2025.
In the regional context, the highest economic growth in 2024 is projected for Georgia at 7.6%. Projections for Iran stand at 3.7%, and for Azerbaijan at 3.2%.
Among Eurasian Economic Union (EAEU) countries, Kyrgyzstan is forecasted to grow by 6.5%, Kazakhstan by 3.5%, and Russia by 3.8%.
Earlier, BMG reported that Armenia’s economic activity index for January-October 2024 showed an 8.1% increase compared to the same period in 2023.
Meanwhile, Armenia’s state budget for 2024 had initially projected economic growth at 7%, with inflation expected at 4% (±1.5%). S&P Global forecasts a 6.2% economic growth rate for Armenia in 2024, while the United Nations anticipates growth of 5.2% in 2024 and 4.8% in 2025.
