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-
