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Head of World Bank Yerevan office predicts 4-5% economic growth for Armenia this and next year

YEREVAN, May 27, /ARKA/. Head of World Bank (WB) Yerevan Office, Jean-Michel Happi, said today the WB predicts a 4-5% economic growth for Armenia this and next year.

Speaking at a news conference he said WB Yerevan Office is working now with Armenian ministry of economy and the National Statistical Service (NSS) to make a more exact GDP growth projection. He said the preliminary forecast is that it will grow 4-5% this and next years.

As for inflation, Mr. Happi said the Armenian economy is subject to global economic trends, including inflation. He added if no serious economic turmoil happens in the world and Armenia’s crops are not damaged by natural disasters that would raise their prices at home the inflation would be within 6-6.5%.

The government inflation projection for this year is 4% (±1.%), and the GDP projection is 4.6%.-0-

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Insurance market of Armenia is in embryonic state

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Euro exchange rate rises 0.64 points to AMD 411.8

The average market exchange rate of the U.S. dollar to the Armenian dram on February 7, 2025, totalled 396.76 drams, down 0.07 points compared to February 6.

Average exchange rate of the dram to the dollar in January was 1.7% lower than a year ago

In January 2025, the average exchange rate of the Armenian dram to the US dollar was 397.9 drams, which is 1.7% lower than in January 2024 (405 drams), according to a report by the National Statistical Committee of Armenia.

 EDB expects inflation to accelerate in Armenia

The pace of price growth in Armenia is expected to gradually increase in the coming months, driven by the easing of monetary policy and the recovery in global food prices, according to the weekly macro review of the Eurasian Development Bank (EDB).

Euro exchange rate falls by 2.2 points to AMD 411.16

The average market exchange rate of the U.S. dollar to the Armenian dram on February 6, 2025, amounted to 396.83 drams, having increased by 0.25 points compared to February 5.

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