World Bank affirms Armenia’s GDP growth at 5% for 2014

World Bank affirms Armenia’s GDP growth at 5% for 2014

YEREVAN, June 11. /ARKA/. The World Bank has affirmed Armenia’s economic growth at 5%, says the WB’s Global Economic Prospects report released on Tuesday.

The WB experts say Armenia will maintain 5% GDP growth in 2015-2016 as well.

According to the report, Armenia’s current account deficit is minus 8.7% in relation to GDP as compared to 10.5% in 2013. The projected level is minus 7.7% for 2015 and minus 7% for 2016.

The WB gives its 2014 GDP growth projections for other CIS countries as well – 10% for Turkmenistan, 7% for Uzbekistan, 6.5% for Kyrgyzstan, 6.3% for Tajikistan, 5.2% for Azerbaijan, 5.1% for Kazakhstan, 3% for Moldova and 0.5% for Russia. Reduction is expected in Belarus and Ukraine – 0.5% and 5% respectively. Georgia is expected to post a 5% GDP growth this year.

According to the authors, the global economy may see a slight reduction soon – the GDP growth projections are lowered from 3.2% in January to 2.8% now.

The GDP growth is expected at 5.2% and inflation at 4% (±1.5%) in the country’s budget for 2014. –0—

12:56 11.06.2014

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