EBRD predicts 1-3 percent growth for Armenian economy
The European Bank for Reconstruction and Development (EBRD) expects Armenia’s GDP to grow this year by 1-3 percent, head of EBRD Yerevan Office, Mark Davis, told a news conference today saying that a more accurate forecast will be announced in late October.
Mark Davis said EBRD’s previous forecast was pessimistic – a 1.5% decline, but it revised its outlook after the release of official first half economic data.
He said despite the decline in money transfers from Russia and some other countries, an increase in the consumption of domestic goods was observed, indicating Armenian economy’s stronger sides as opposed to other countries in the region, where various risks, both in terms of economic situation and currency fluctuations, continue to persist which may affect the Armenian economy in the longer term.
Earlier, Armenia’s Central Bank predicted a 2.5-3.5% growth. The government’s GDP projection for 2015 is 4.1%. Inflation projection is 4% (± 1.5%). -0-