The Central Bank of Armenia has expressed concerns about the stability of economic growth in the country, despite the high indicators recorded in the 4th quarter of 2023 and in January of the current year.
According to the published report on monetary policy for the first quarter of the current year, economic growth reached 7.8% on an annual basis, exceeding the estimate of long-term stable growth, which is around 5%.
"High growth rates, especially in the trade and construction sectors, remain the main driving forces of economic growth in the country. Such trends were also noted in January when economic activity increased by 10.7% compared to the same period last year," the report says.
However, the Central Bank emphasizes that the structure of economic growth and its concentration in certain sub-sectors create certain risks to stability.
"Despite the persistent uncertainty, the imbalance between aggregate demand and supply in the economy is consistently decreasing," the report states.
Armenia's economic growth in the 2024 budget is projected at 7%, and inflation is set at 4% (±1.5%).
