Mon, 25 August
28.1 C
Yerevan
USD: 384.03 RUB: 4.80 EUR: 443.29 GEL: 142.29 GBP: 510.11

World Bank predicts 4.3% economic growth in Armenia for 2011-2013

YEREVAN, June 8. / ARKA /. Armenian economy is predicted to see a 4.3% average growth in 2011-2013, according to a World Bank ‘Global Economic Prospects’ report for June 2011. The World Bank predicts also an average 4.9% growth for Georgia, a 4.5% economic expansion for Albania, Bosnia and Herzegovina, Macedonia, Kosovo, Montenegro, Serbia, a 4.3% growth for Ukraine, a 4.2% growth for Russia and Azerbaijan and a 3.4% growth for Bulgaria, Lithuania and Romania. The section on Europe and Central Asia predicts an average 4% growth for Belarus, Moldova and Ukraine in 2011-2013, but adds also that these countries face serious downside risks.

According to the WB report, the greatest economic growth in the next three years is expected in Central Asia: Uzbekistan’s economy is expected to grow by 8%, 7.8% and 7.5% in 2011-2013, Tajikistan is expected to see a 5.7% 5% and 5% rise respectively, Kazakhstan’s economy will expand by 5.7% 5.5% and 5. 8%, Kyrgyzstan’s economy will expand by 5% 6% and 6.4 %. Turkey’s GDP is predicted to grow by 6.1%, 5.1% and 5.3%.

The World Bank also predicts that growth rates in developing countries will slow down in 2011-2013 to 6.3% annually against 7.3% in 2010. The growth in developed countries will be 2.2% in 2011 and accelerate to 2.7% and 2.6% in 2012 and 2013 respectively. In 2010 this figure stood at 2.7 %.

The report has a recommendation developing countries to move from the policy of combating the financial crisis to the growth supporting policy. In this context, the experts of World Bank advise that developing countries should focus on solving their specific problems, such as achieving a balanced growth through structural reforms, combating inflationary pressures and higher prices for consumer goods.-0-

spot_img

POPULAR

Armenia registered an inflation rate of 3.4% in July.

According to the National Statistical Committee (NSC) of Armenia, 12-month inflation in the consumer market amounted to 3.4% in July of this year.

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Unibank Issued Preferred Shares with a Fixed Annual Dividend of 12%

Unibank announces a new issue of Class “G” convertible preferred shares, offering investors a fixed annual dividend of 12%. The total issue volume amounts to AMD 1.5 billion.

LATEST NEWS

spot_imgspot_imgspot_img