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Armenia Position Strong

Armenia  Position Strong  Armenia  Position Strong

Armenia’s economy is set to expand by 5.8% in 2017 and grow further by 3.8% and 3.6% in the following two years, a new report by the United Nations revealed, citing vibrant economic activity indicators reported by the country, PanAarmenian.net reported. In its previous forecast, the UN had predicted a 2.7% GDP growth for Armenia in 2017 and a further 3% increase for 2018. The recovery of remittances from Russia is contributing to the acceleration of economic activity in Central Asia and the Caucasus. In Armenia, the economy has bounced back strongly, amid rapid industrial growth and higher copper prices, the report titled World Economic Situation and Prospects 2018 said. Eurasian Development Bank’s economic growth outlook for Armenia in 2017 stands at 5.2%; the World Bank forecasts a 3.7% GDP growth; the International Monetary Fund expects the country’s economy to expand by 3.5% in 2017. The Asian Development Bank in late September raised its growth forecast for the Armenian economy to 3.8% in 2017, while the EBRD is expecting a 2.5% GDP growth for the country.

 

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