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Time in Yerevan: 11:07,   28 March 2024

IMF revises Armenia’s economic growth forecast

IMF revises Armenia’s economic growth forecast

YEREVAN, 8 APRIL, ARMENPRESS. The International Monetary Fund (IMF) has cut Armenia’s economic growth forecast down to 0 percent with a low probability of positive or negative deviation. During a press conference, IMF Mission Chief to Armenia Mark Horton mentioned that Armenia’s economic situation had changed drastically over the past year due to the protraction of Russia’s economic growth, reduction of money transfers from abroad and fewer exports from Armenia.

“We have examined the target economic performance indicators for the month of December 2014. Due to the changes that have taken place, changes will also be made in the IMF plan. Compared with last year, this year we forecast a decline in Armenia’s economic growth, down to 0 percent. It is due to the bad economic growth forecast for the Russian Federation,” Horton informed, as “Armenpress” reports.








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