Armenia Economic Outlook
November 26, 2019Economic growth accelerated to 7.9% year-on-year (yoy) in the third quarter (Q2: +6.9% yoy), marking the fastest expansion since Q1 2018. Domestic activity rebounded strongly in the third quarter, largely underpinned by a solid rise in fixed investment. Moreover, the external sector contributed positively to growth as exports of goods and services jumped in the third quarter, defying the weak global backdrop and logging the quickest expansion in nearly two years. Meanwhile, private consumption remained robust amid rising household incomes, despite easing somewhat compared to the previous quarter. On the supply side, the third quarter’s acceleration largely reflected swifter growth in the industrial and construction sectors compared to the previous quarter.
Armenia Economic GrowthEconomic activity is expected to moderate next year; however, it should remain sturdy amid rising wages, relatively contained inflationary pressures and loose monetary policy. Risks to the outlook are the large current account deficit, elevated levels of external debt and subdued commodity prices. Our panelists see the economy growing 4.8% in 2020, which is unchanged from last month’s outlook, and 4.7% in 2021.
Armenia Economy Data
5 years of Armenia economic forecasts for more than 30 economic indicators.
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