The World Bank has forecast a 5.1% economic growth for Armenia in 2020, with the growth projected to reach 5.2% in 2021-2022.
The World Bank's Global Economic Prospects (GEP) January 2020 report says growth in the region decelerated to an estimated three-year low of 2% in 2019, reflecting a sharp slowdown in Turkey as a result of acute financial market pressure in 2018, as well as in Russia amid weak demand and cuts in oil production. Sustained weakness in exports growth in the region has continued amid slowing manufacturing activity and investment.
In Central Europe, the boost to private consumption in early 2019 from rising real wages and government transfers helped to sustain above-potential growth.
The World Bank says growth in the South Caucasus is forecast to decele...
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