World Bank forecasts 0.8% economic growth for Armenia in 2015.

It is stated in World Bank’s “Global Economic Prospects: Europe and Central Asia” report published the day before. According to the report, Armenia is expected to have 2.7% economic growth in 2016 and 3% – in 2017.

To compare, this January World Bank projected 3.3% economic growth for Armenia in 2015 and 3.7% and 4.1% economic growth in 2016 and 2017, respectively.

The recent World Bank report forecast 1.5% economic growth for Azerbaijan in 2015, and 2.6% and 2.7% – in 2016 and 2017, respectively.

World Bank forecasts for neighboring Georgia are as follows: 2% economic growth in 2016, 3% – in 2016 and 5% – in 2017.

Russia is expected to have 2.7% economic growth in 2015.

The authors of the forecasts believe that decline in oil prices, increased geopolitical tension and sharp deterioration in financial conditions accounted by them pose risks for the economic growth of the region.  

By the way, the Armenian government expects 4.1% growth for 2015 budget and the Central Bank – 0.4-2%.

The European Bank for Reconstruction and Development (EBRD) has projected 1.5% economic growth for Armenia in 2015, and the International Monetary Fund (IMF) – 1% decline.