World Bank Raises Economic Growth Forecast for Armenia

The World Bank has revised its forecast for economic growth in Armenia. The bank now predicts a 4.4% economic growth for Armenia in 2023, increasing its previous forecast by 0.3%.

This information is reported in the World Bank's June report on 'Global Economic Prospects.'

The World Bank estimates Armenia's economic growth at 4.8% for 2024 and 5% for 2025.

Regarding neighboring countries, the bank has decreased Azerbaijan's forecast by 0.6%, estimating its economic growth for 2023 at only 2.2%. The World Bank predicts economic growth in Azerbaijan to be 2.5% in 2024 and 2.6% in 2025.

This year, the bank forecasts the same economic growth for Georgia as for Armenia, at 4.4%, and 5% for both 2024 and 2025.