ADB forecasts that Armenia’s economic growth this year May slow down to 3.8 percent

13.04.2012 11:44
ADB forecasts that Armenia’s economic growth this year May slow down to 3.8 percent

YEREVAN, April 13, /ARKA/. In its flagship annual economic publication, Asian Development Outlook 2012 the Asian Development Bank (ADB) forecasts a 3.8% gross domestic product (GDP) growth for Armenia in 2012 which may accelerate to 4.2% in 2013. According to the report, GDP growth in Armenia in 2012-2013 will be constrained by the weakening European economies and a possible negative impact of this process on Russia, which is the main source of money remittances to Armenia.

The report forecasts a 6.1% GDP growth for the region in 2012, which may grow to 6.2% in 2013. At the same time, according to the report, Armenia’s inflation in 2012 will slow to 4.1%, and rise to 4.5% in 2013.

The ADB believes also that a drop in demand for raw commodities at international markets and a subsequent fall in prices may negatively affect Armenian exports. According to the report, the current account deficit in 2012 will amount to 11.2% of GDP, while in 2013 this figure is projected at 10% of GDP. The Armenian government has projected a 4% (± .5%) inflation for this year and a 4.2% GDP growth.

The Asian Development Bank was established in 1966, its members are 67 countries. The Republic of Armenia joined it in 2005. -0-


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