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November 16, 2013 Saturday
EBRD sees 3.5 per cent growth in Armenia in 2014
Luxembourg
The European Bank For Reconstruction and Development has issued the
following news release:
The Armenian economy is expected to grow modestly in 2014 after a
sharp slowdown this year, the EBRD says in its latest Regional
Economic Prospects report, published today.
Growth had been affected by delays in public infrastructure spending
and a significant increase of prices of Russian gas and related
tariffs hikes.
GDP growth is now seen at 2.5 per cent in 2013 after 7.1 per cent in 2012.
The latest 2013 forecast represents a further downward revision from
May when the EBRD was predicting 4 per cent growth. The revisions are
largely driven by the worsening outlook for Russia and its knock-on
effects in the region and on its trading partners.
However Armenia's GDP growth is expected to recover modestly to 3.5
per cent in 2014 as remittance inflows have remained strong and
Armenia's decision to seek membership of the Eurasian Customs Union
may bring about a reduction of natural gas prices.
For more information please visit: http://www.ebrd.com
November 16, 2013 Saturday
EBRD sees 3.5 per cent growth in Armenia in 2014
Luxembourg
The European Bank For Reconstruction and Development has issued the
following news release:
The Armenian economy is expected to grow modestly in 2014 after a
sharp slowdown this year, the EBRD says in its latest Regional
Economic Prospects report, published today.
Growth had been affected by delays in public infrastructure spending
and a significant increase of prices of Russian gas and related
tariffs hikes.
GDP growth is now seen at 2.5 per cent in 2013 after 7.1 per cent in 2012.
The latest 2013 forecast represents a further downward revision from
May when the EBRD was predicting 4 per cent growth. The revisions are
largely driven by the worsening outlook for Russia and its knock-on
effects in the region and on its trading partners.
However Armenia's GDP growth is expected to recover modestly to 3.5
per cent in 2014 as remittance inflows have remained strong and
Armenia's decision to seek membership of the Eurasian Customs Union
may bring about a reduction of natural gas prices.
For more information please visit: http://www.ebrd.com