EBRD to revise economic growth forecast for Armenia
The European Bank for Reconstruction and Development (EBRD) promises to revise its outlook on Armenia’s economic growth.
At a news conference on Wednesday, Head of the Bank’s Armenian Resident Office Mark Davis said their negative forecast predicting a -1.5% growth for 2015 is likely to increase to 1%-3% by the end of the year.
He noted Armenia is very susceptible to regional stresses which essentially impact the foreign transfer volumes, reducing the population’s purchasing power and causing instabilities on the currency market. Mr Davis said he sees that all those developments influenced the investment volumes, which will be more vividly visible in their 2015 concluding report.
He added the 4.2% increase in the economic activity index (which the Government had outlined for 2015) was due mainly to this year’s positive dynamics in agriculture and the recently launched copper mine.
He said that despite the complicated economic year, he doesn’t see grounds for pessimism.
Agreeing that Armenia’s membership in the Eurasian Economic Union is really a good opportunity for the country, Mr Davis said he thinks that that future development perspectives dependon the procedures of arranging the transit transportation of goods.
He said he finds the Armenia-Iran transit route project a better opportunity for the country.
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