Armenia Economic Outlook
March 6, 2018The economy experienced a notable turnaround in 2017 amid a stronger global economic picture. Full-year economic growth soared to a five-year high, rising to 7.5% from 0.2% in 2016. Annual growth in the final quarter of the year also accelerated markedly from the third quarter. Domestic demand surged in the year, aided by a rapid expansion in credit due to lax monetary conditions. Exports also climbed, thanks to a pick-up in demand from Russia, Armenia’s biggest trading partner. Last year’s strong growth momentum appears to have carried over into the new year, as economic activity continued growing at a robust year-on-year pace of 10.2% in January, albeit moderating slightly from December.
Armenia Economic GrowthEconomic growth is set to remain healthy in 2018 but will likely moderate from last year. Solid domestic demand and rising remittances will continue to support growth. FocusEconomics panelists see the economy expanding 3.8% in 2018, which is up 0.2 percentage points from last month’s forecast, and 3.9% in 2019.
Armenia Economy Data
5 years of Armenia economic forecasts for more than 30 economic indicators.
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