Armenia Economic Outlook
October 2, 2018The economy grew buoyantly in the first half of the year thanks to surging investment and healthy household spending. Tailwinds from remittances from abroad, accommodative monetary policy, and increased lending kept growth strong in H1, despite plunging government consumption due to fiscal tightening. While these growth drivers largely remained in place in the third quarter, growth is expected to have lost steam. Agricultural output plunged in August, in part due to bad weather, causing overall economic activity to slump. On the political front, My Step, the party led by new prime minister Nikol Pashinyan, secured a landslide victory in local elections in Yerevan on 23 September. This signals strong support ahead of national elections expected in the coming months.
Armenia Economic GrowthA recovery in Russia’s economy, firmer commodity prices and healthy domestic demand should drive solid activity this year and next, although growth is seen slipping from 2017’s five-year high. Met the why particular panelists project the economy will grow 5.4% in 2018 and 4.6% in 2019, which is up 0.1 percentage points from last month’s forecast.
Armenia Economy Data
5 years of Armenia economic forecasts for more than 30 economic indicators.
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