IMF FORECASTS SLOWDOWN IN ARMENIAN ECONOMIC GROWTH IN 2013-14
Interfax, Russia
April 18 2013
The International Monetary Fund (IMF) forecasts a slowdown in Armenia’s
real GDP growth from 7.2% last year to 4.3% this year and 4.1% in 2014,
the IMF reported in its April version of the World Economic Outlook.
Armenia will have 4.2% inflation in 2013 and 4% inflation in 2014,
compared to 3.2% in 2012, according to the IMF’s predictions.
The current account deficit will decline from 10.6% of GDP last year
to 9.6% of GDP this year and 8.2% of GDP in 2014. Unemployment will
edge down from 19% in 2012 to 18.5% in 2013, then 18% in 2014, the
IMF reported.
The IMF attributed Armenia’s future economic growth for this year and
next year to “a return to more normal weather conditions, a slowdown
in credit expansion, and a continuation of fiscal consolidation bring
the economy back toward trend growth.”
The Asian Development Bank (ADB) has forecast Armenian GDP growth
at 4.5% this year and 4.6% next year, and it predicts 3.6% and 3.2%
inflation, respectively.
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