Asian Development Bank decreased Armenia’s economic growth forecast from 1.6% to 1.2% (3.4% - 2014).

The ADB’s Asian Development Outlook revised report reads this. The previous report was published in March 2015.

According to the new forecast, Armenia’s economic growth will make 2% in 2016, while the forecast was 2.3% in March.

The ADB experts remained the 2015 annual inflation rate unchanged -4.6%, 2016 index being 4.1% (again unchanged).

Current account balance as of 2015 will make GDP’s 8.7% (March forecast- 9.2%), while in 2016- 8.3% of the GDP (March forecast - 8.3%).

“All major sectors contributed to growth, but a 4.2% slump in trade slowed growth in services to 1.8% from 3.7% a year earlier. Agriculture saw double-digit growth at 15.5%, and industry including construction expanded by 3.7%.”, the ADB experts noted analyzing Armenia’s economic growth.

As for other countries of the region, the forecasts are unchanged as compared to March: Georgia is expected to see 2.0% growth and 2.5% in 2016, and Azerbaijan- 3% in 2015 and 2.8% in 2016.