Armenia Economic Outlook
September 3, 2019The economy continued to grow soundly in the second quarter, expanding 6.5% annually, although momentum eased from the first quarter’s 7.2% increase. Household spending soared in Q2 thanks to strong wage growth and revived confidence after the political transition. However, fixed investment and government spending both contracted, weighing on domestic activity. Available data for the third quarter is largely positive, with economic activity jumping in July thanks to a pick-up in trade and services activity. On a positive note, Moody’s upgraded the government’s debt rating to Ba3 on 27 August, thanks to improved economic diversification and market-friendly policies.
Armenia Economic GrowthRising wages and recovering confidence should keep the economy growing at a healthy pace this year. However, soft activity in key trading partners and subdued commodities prices should cause growth to easing slightly from 2018’s result. Our panelists see the economy growing 5.1% in 2019, which is up 0.3 percentage points from last month’s forecast, and 4.7% in 2020.
Armenia Economy Data
5 years of Armenia economic forecasts for more than 30 economic indicators.
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