Would Bank: GDP growth slowed in Armenia to 3.0 percent in 2015
World Bank has issued its monthly economic update on the performance of Armenia’s economy which is already available on WB’s Facebook page. According to the WB, GDP growth slowed in Armenia to 3.0 percent in 2015 in light of the weakening external conditions, in particular Russia’s recession. Despite the reduced exports to and remittances from Russia, growth was stronger than expected due to one-off factors including a good agriculture harvest and the opening of a new copper mine. In 2016, growth is projected to remain sluggish at 2.5 percent due to continued recession in Russia and structural weaknesses. The economic activity index increased to 5.5 percent in January 2016 (y-o-y) supported by the tradable sector. The relative boost in economic activity, including the agri-export expansion, is explained by the base effect in January 2015 and needs to be maintained for a few more months before suggesting any adjustments in projections. More details can be found here
