The World Bank has raised its forecast for Armenia's economic growth to 5.5% in 2024. The World Bank (WB) released its economic development forecast for the European and Central Asian regions.
According to this report, Armenia's economic growth is expected to reach 5.5% in 2024, and then decrease to 4.9% in 2025, which is higher than the previous forecasts of 4.7% and 4.5%, respectively.
Within the Eurasian Economic Union (EAEU), economic growth is projected to be 4.5% in Kyrgyzstan and 3.4% in Kazakhstan. However, relatively low growth is forecasted in Russia and Belarus — 2.2% and 1.2%, respectively.
For Georgia real GDP growth is estimated at 5.2%, which is 0.4 percentage points lower than the previous forecast. Economic growth in Turkey is forecasted at 3%, and in Azerbaijan at 2.3%.
