World Bank predicts 5.3% GDP growth for Armenia in 2018

World Bank predicts 5.3% GDP growth for Armenia in 2018

PanARMENIAN.Net - Real GDP growth in Armenia is expected to moderate to 5.3 percent in 2018, reflecting strengthening headwinds in the country's main trading partners, the World Bank said in its new forecast.

According to the new data, GDP expanded by 8.3 percent in the first half of 2018, benefiting from robust external an domestic demand and elevated copper prices.

Inflation will edge up but remain within the CBA target range, while the current account deficit will widen on account of a higher import bill, WB said.

"Armenia’s economy continued to grow strongly in 2018, reflecting robust external demand, favorable metal prices, higher investment, and strengthened private consumption," the Bank said.

"Improvements in labor markets and remittance inflows are estimated to have lowered poverty to prefinancial crisis levels."

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