IMF improves Armenia's economic growth forecast for 2023

YEREVAN, October 11. /ARKA/. The International Monetary Fund (IMF) said in its latest World Economic Outlook report that it expects Armenia's economy to grow by 7% in 2023.

In April this year, the IMF predicted 5.5% economic growth in 2023. The October report notes that the Armenian economy's growth will slow down to 5% in 2024.

Analysts also expect inflation in Armenia to reach 3.5% in 2023 and accelerate to 4% in 2024.

Armenian government’s growth projection for 2023 is 7%; the inflation is expected to be 4% (±1.5%). The Central Bank's growth forecast is 6.9%, with 12-month inflation expected to be slightly below the 4% target.

Fitch predicted for the Armenian economy 6.1% growth in 2023, Moody's forecast is 7%, and that of S&P is 7.5%.

The World Bank estimates that Armenia's GDP growth will be 4.4% this year, the EDB expects it to grow by 7.5%, the EBRD’s growth forecast is 5%. -0-