According to the WB report, after the 3% economic growth in 2015, it nearly stopped in 2016, standing at 0,2%, mainly conditioned by the drop of metal prices in the international markets since metal exports have a significant share in Armenia’s exports.
“Starting from January, 2017, Armenia’s economy recorded some trends of progress, while the economic activation index amounted to 6.5%”, reads the report. The WB also notes that Armenia’s budget also recorded some growth thank to the consistent steps of the Government of Armenia in the direction of tax collection and state expenditures. The report also notes that the Central Bank of Armenia eased the monetary policy by lowering the refinancing rate to 6%.
According to the WB, the predicted 2.7% economic growth is conditioned by the expansion of the export oriented branches of Armenia and the “moderate” restoration of the domestic consumption.
The report predicts 3-3.5% mid-term growth considering the domestic shortcomings of the economi...
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