Armenia's economy to grow 6% in 2024, Central Bank head
YEREVAN, December 10. /ARKA/. The Central Bank of Armenia expects the country's economy to grow by 6% or slightly less in 2024, said the head of the regulator, Martin Galstyan.
"Next year, we expect economic growth to be close to our country's potential growth, around 5%," he said at a press conference on Tuesday.
In this regard, Galstyan noted that the Central Bank's Board bases its forecasts on two scenarios.
“According to Scenario A – the inflationary scenario – economic growth will be higher, and according to Scenario B, it will be lower,” he explained.
Speaking about market expectations, the head of the regulator noted that they are also expected to be close to potential growth, around 5%.
"We will see solid growth in 2025," Galstyan concluded.
Figures and Forecasts for the Armenian Economy
Armenia's economic growth is projected at 7% in the 2024 state budget, and 5.1% in the 2025 budget.
The EDB forecasts Armenia's GDP growth at 6% in 2024 and 5.5% in 2025. The World Bank expects it to grow by 5.5% in 2024 and 5% in 2025. The IMF forecasts a 6% growth in 2024, with 4.9% growth in 2025.
The EBRD predicts economic growth at 6.2% in 2024 and 4.8% in 2025. The ADB forecasts 5.7% growth for 2024 and 6% for 2025. According to Fitch Ratings, the Armenian economy will grow by 6% in 2024 and 4.9% in 2025. S&P predicts a 6.2% growth in 2024, while the UN expects Armenia's economy to grow by 5.2% in 2024 and 4.8% in 2025.-0-
