World Bank Projects Highest Economic Growth for Armenia in 2022

The World Bank has forecasted the highest economic growth for Armenia among the countries of Europe and Central Asia for 2022, estimating an impressive growth rate of 10.8%. This information comes from the World Bank's report titled "Global Economic Prospects (January 2023)."

Regarding the other countries in the region, Azerbaijan's economic growth is projected at 4.2%, Georgia's at 10%, and Turkey's at 4.7%. The World Bank predicts that Armenia's GDP will grow by 4.1% in 2023 and by 4.8% in 2024. In a press conference on January 10, Armenian Prime Minister Nikol Pashinyan indicated that the GDP growth for 2022 could be closer to 12.5-13%. For 2023, an economic growth rate of 7% has been planned.