YEREVAN, January 18. /ARKA/. In a latest Global Economic Prospects 2012 report, the World Bank says Armenia’s economic expansion in the next two years is likely to slow down. It predicts a 4.6% GDP expansion for 2011 (as much as projected by the Armenian government) saying it will slow down to 4.3% in 2012 and to 4.2% in 2013. The Armenian government’s projection for 2012 is $.2%
The report says Uzbekistan’s economy will see the largest growth among CIS countries in 2012 and 2013 – 8% and 6.5% respectively, while the lowest forecast of 0.5% is for Belarus. The forecast for Azerbaijan in 2013 is 3%.
‘Developing countries should be ready to risks of slowing economic growth, as the eurozone’s debt problems and weakening growth in some emerging markets reduce the prospects for global growth,” the report says.
The World Bank has lowered economic growth forecast for 2012 to 5.4% for developing countries and to 1.4% for countries with high income (minus 0.3% for the eurozone) compared with its estimates last June, which were respectively 6, 2% and 2.7% (1.8% for the euro area).
Global economic growth, according to current projections, would amount to 2.5% and 3.1% in 2012 and 2013 respectively. -0-
