Analysts of Eurasian Development Bank (EDP) predict 4.8% GDP growth in Armenia in total for 2014, “inter alia owing to greater macroeconomic assistance from international donors and expanded cooperation with the Customs Union.”

According to EDB, the GDP growth slowed down in Armenia in Q1 2014 to 3.1% year-on-year owing to the weaker domestic demand and poor external market situation, in particular, owing to the less favorable prices for exported raw materials.

The low level of economic activity particularly manifested itself in the negative growth of the mining industry (-1.3%) and construction (-3.3%). That is offset, however, with the good performance of agriculture (+6.0%) and processing industry (+4.5%)”, finds EDB’s study.