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IMF has revised Armenia's GDP growth forecast upwards

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Arshaluis Mgdesyan
08.05.24 11:35
34

The International Monetary Fund (IMF) has revised Armenia's GDP growth forecast upwards to 6% by the end of 2024 (from the expected 5.0%) and to 5.2% in 2025.

Such a revision, as stated in the economic digest by Freedom Broker Armenia, carries significant weight for this indicator. It is lower than the previous year's level (8.7% in 2023), but still higher than the global average.

Separately, the World Bank has improved its forecast for Armenia's economic growth from 4.7% to 5.5% in 2024, from 4.5% to 4.9% in 2025, and expects a growth of 4.5% year-on-year in 2026.

"The expected slowdown in year-on-year growth in 2024 is attributed to slowing investment growth and negative net exports. Inflation is expected to be at 3%, 3.5%, and 4% in 2024, 2025, and 2026, respectively," the statement said.

Earlier, BMG reported that Armenia's economic growth in the state budget for 2024 is projected at 7%, with inflation set at 4% (±1.5%).

Economic activity in Armenia increased by 15.3% in March 2024, according to data from the Statistical Committee. Overall, for the first quarter of 2024, this indicator amounted to 14.3%.

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