World Bank expects 4.2% of economic growth for Armenia in 2019, which will accelerate and make 4.9% and 5.2% respectively in 2020 and 2021.

This was mentioned in World Bank’s “Global Economic Prospects June 2019” report.

Earlier the organization expected GDP growth of 4.3% for Armenia in 2019.

“Backpedaling on structural reforms could be risky in a number of countries in the region, including Armenia,” the report reads.  

The organization expects regress in pace of world economic growth in 2019 and certain recovery from 2020.
 
According to the report, growth in Europe and Central Asia is estimated to have slowed to 1.6% in 2019, a four-year low, partly reflecting a sharp weakening of activity in Turkey and policy disagreements between some Central European countries and the European Union.

Regional growth is expected to firm to 2.7% in 2020 as Turkey recovers from a sharp growth slowdown.

“The region’s outlook remains subject to significant downside risks. Chief among these is a sharper-than expected slowdown in the region’s most important trading partner, the Euro Area. In Central Asia and Eastern Europe, slowing activity in Russia could impact remittances, which account for an important portion of income in a number of countries (including Armenia-Banks.am),” the report reads.

World Bank estimates 4.8% economic growth in 2020 for Georgia, 3.5% - for Azerbaijan, 1.8%, - for Russia, and 3% - for Turkey.