Armenia's economic growth to make 5% in 2014-2016: WB

YEREVAN, JANUARY 15, ARMENPRESS: The World Bank evaluated the Armenia’s economic growth of 2014-2016 to be about 5%.Armenpress reports that it is mentioned in the January report of the World Bank’s “Global Economic Prospects” report.The WB experts forecast that the rates of the world economy growth will increase in the current year making it 3.4%. The initial acceleration of growth will be mainly provided by the countries having high income level. Though the sharp decline in Russia contains great risks for many of the CIS countries, especially those countries, which mainly depend on Russia from the point of view of the import, transfer flows and foreign investments. These countries are Armenia, Kyrgyzstan, Moldova, Tajikistan and Uzbekistan.

Developing countries’ GDP growth rates are expected to increase from 4.8% in 2013 to 5.3% in 2014, 5.5% in 2015 and 5.7% in 2016.According to WB’s forecasts, Armenia’s GDP was expected to grow by 3.2%.As per the World Bank projection, Armenian economy will grow by 5% in 2014-2016.

The World Bank’s GDP growth projections for 2013 for CIS countries are as follows: Turkmenistan – 10.1%, Uzbekistan – 7.4%, Tajikistan – 7%, Kazakhstan – 6%, Moldova – 5.5%, Azerbaijan – 4.9%, Belarus – 1%, Ukraine – 1.1%, Georgia – 2.5%.