The International Monetary Fund (IMF) said in its latest World Economic Outlook report for April 2023 that it expects Armenia's economy to grow by 5.5% in 2023.
The forecasted figure is up from IMF's previous projection of 4.5% growth for Armenia in 2023, made in December 2022.
The April report notes that the growth of the Armenian economy will slow to 5% in 2024. IMF analysts also expect inflation in Armenia to be 7.1% in 2023 and decline to 5% in 2024.
Armenia's government growth projection for 2023 is set at 7%, and inflation is set at 4% (±1.5%). The World Bank predicts that Armenia's economic growth in 2023 will be 4.1%. Fitch in February projected the Armenian economy to grow to 6.1% in 2023 and to 4.7% in 2024.
The European Bank for Reconstruction and Development (EBRD) expects Armenia's economy to grow by 4% in 2023 and by 4.8% in 2024. The Asian Development bank said Armenia's economic growth will slow down to 6.5% in 2023 and to 5.5% in 2024 depending on domestic and external demand, ARKA reports.
