World Bank Predicts 3.4% GDP Growth for Armenia
The World Bank forecasts 3.4% real GDP growth for Armenia this year.
According to previous WB estimates published in January this year, economic growth in Armenia was projected at 3.1% in 2021, 0.3 percentage points lower than the new forecast.
According to WB experts, Armenia's economic growth is negatively affected by the tense domestic political situation, weak tourist flows, the post 2020 Karabakh war socio-economic situation, among others,
Economic growth is projected at 6% in Georgia in 2021, 5% in Turkey, 2.8% in Azerbaijan, and 2.1% growth in Iran.
Armenia’s Statistical Committee registered an economic decline of 7.4% in the country last year.