EBRD downgrades Armenia’s economy growth forecast in 2014

PanARMENIAN.Net - Eastern Europe’s economic-growth prospects have worsened as the region’s largest economies, Russia and Poland, are slowing “significantly,” the European Bank for Reconstruction and Development said.

The 30 eastern European and central Asian countries where the EBRD invests will expand 2.1 percent this year, the London-based bank said, cutting its January forecast of 3 percent. The economies expanded 2.5 percent last year and will grow 3.1 percent in 2014, the EBRD predicted.

EBRD forecasted a 5% GDP growth for Armenia in 2013; the Bank also predicted a 4,5% inflation rate and slower economic growth of 4% in 2014.

Armenia’s national budget envisages 6,2% economic activity growth, and 4±1,5% inflation.