Armenia will post a 4.1% GDP growth in 2018 and a 4% growth in both 2019 and 2020 after a 7.5% expansion in 2017, the World Bank said in its June edition of the Global Economic Prospects.

In the report’s January edition, however, the WB said the country’s economy will expand by 3.8% this year.

The Bank’s new forecast still offers a somewhat duller image compared to that of the government whose program envisages a 4.5% expansion.

Azerbaijan's economy, meanwhile, is expected to grow by 1.8% in 2018, while Georgia's is set to expand by 4.5%.

The Armenian economy grew by 7.5% in 2017, despite the government's 3.2% forecast after the country registered an economic progress of just 0.2% the year before.