Рейтинг@Mail.ru
ARKATELECOM
|
ARMBANKS
USD
398.94
EUR
410.95
RUB
3.8929
GEL
140.52
Saturday, January 18, 2025
weather in
Yerevan
+4
NEWS » Economy » WB improves Armenia's economic growth forecast for 2025
Economy

WB improves Armenia's economic growth forecast for 2025

17.01.2025, 09:42
The World Bank expects Armenia's economy to grow by 5% in 2025 and by 4.6% in 2026. This forecast is included in the World Bank's January 2025 Global Economic Prospects report.
WB improves Armenia's economic growth forecast for 2025

YEREVAN, January 17. /ARKA/. The World Bank expects Armenia's economy to grow by 5% in 2025 and by 4.6% in 2026. This forecast is included in the World Bank's January 2025 Global Economic Prospects report.

At the same time, the forecast for Armenia's economic growth in 2024 is 5.5%. In a study published last June, the 2024 forecast was the same — 5.5%, while the forecasts for 2025 and 2026 have been improved by 0.1 percentage points.

January Forecasts from the World Bank
According to the World Bank report, global economic growth is expected to reach 2.7% in 2025-2026. As noted in the document, global growth is "stabilizing as inflation approaches target levels, and monetary easing is supporting activity in both advanced economies and emerging markets and developing economies." The report also highlights that "stronger trade and investment" are positively influencing growth rates.

However, the report points out that global economic growth is relatively low. The projected 2.7% growth is below the average global growth rate of 3.1% in the decade preceding the pandemic.

The report further states that "economic growth in the Europe and Central Asia (ECA) region slowed to 3.2% in 2024." This slowdown is primarily due to weaker economic growth in the Russian Federation and Turkey, driven in part by tighter monetary policies and elevated inflation. Additionally, "lower-than-expected growth in Russia could significantly affect the countries of Central Asia and the South Caucasus, mainly due to a decrease in remittance volumes."

Projections for Armenia’s Economy
Armenia’s economic growth is projected at 7% in the 2024 state budget and 5.1% in the 2025 budget. According to the Central Bank's monetary policy report for Q4 of this year, Armenia’s GDP growth is expected to be 6% by the end of 2024. The forecast for 2025 is between 4.8% and 7.1%, for 2026 between 4.7% and 7%, and for 2027 between 5% and 6.2%.

The Eurasian Development Bank (EDB) forecasts Armenia's GDP growth at 6% in 2024 and 5.5% in 2025. The World Bank expects 5.5% growth in 2024 and 5% growth in 2025. The International Monetary Fund (IMF) projects 6% growth for Armenia in 2024 and 4.9% in 2025. The European Bank for Reconstruction and Development (EBRD) forecasts 6.2% growth in 2024 and 4.8% in 2025. The Asian Development Bank (ADB) predicts 5.7% growth in 2024 and 6% in 2025. Fitch Ratings expects 6% growth in 2024 and 4.9% in 2025. Standard & Poor’s (S&P) anticipates 6.2% growth in 2024, while the United Nations (UN) forecasts 6% growth for 2024, 5.2% for 2025, and 4.7% for 2026.

#ECONOMY
#WORLD
#BANK
#FORECAST
Armenia benefits most from EEU membership - Russian Deputy Prime Minister
Armenia's economic growth shows that it benefits most from its membership in the Eurasian Economic Union (EEU), Russian Deputy Prime Minister Alexei Overchuk said today.


15.01.2025 17:03
Cargo traffic in Armenia decreased by 10.2 per cent in 11 months, while passenger traffic grew by 18.1 per cent
The total volume of cargo traffic in Armenia in January-November 2024  dropped by 10.2% compared to the same period of 2023 to over 15.2 million tons, while the total number of passenger traffic upped by 18% to over 204.2 million people, according to the National Statistics Committee.
15.01.2025 16:24
U.S. invests $3.3B in Armenia for reforms, economy, and aid
The United States has invested approximately $3.3 billion in Armenia to support democratic reforms, economic growth and resilience, and humanitarian aid, according to a statement from the US Embassy in Armenia following the signing of the Charter on Strategic Partnership between the two countries in Washington on January 14.
15.01.2025 14:40
Electric Networks of Armenia issued bonds for $20 million and AMD 7.7 billion
Electric Networks of Armenia (ENA) CJSC has issued bonds totaling $20 million and 7.7 billion drams, according to the company's press service.
15.01.2025 14:35
Armenia's ministries of economy and finance to swap responsibilities
The Committee on Economic Affairs of the Armenian Parliament has approved, in the first reading, a bill that proposes an exchange of responsibilities between the Ministries of Economy and Finance.
15.01.2025 12:38
Armenia to participate in "PRODEXPO 2025" with separate pavilion
Armenia will participate in the 32nd International Exhibition of Food and Beverages "PRODEXPO 2025" with a separate pavilion, which will take place from February 3-7 in Moscow.
15.01.2025 12:34
Armenia's service sector grows 6.3%, exceeds 3 trillion drams
The volume of the service sector in Armenia for January-November 2024 amounted to 3,026,624.6 million drams (in current prices), reflecting a 6.3% increase compared to the same period in 2023, according to the National Statistical Committee of the country.
15.01.2025 11:25
Construction sector in Armenia up 14.9% in 11 months to AMD 567bn
Armenia's construction sector in January-November 2024 grew by about %15% year-on-year to over 567 billion drams (in current prices), according to the National Statistical Committee.
14.01.2025 18:18