YEREVAN, February 17. /ARKA/. The World Bank expects Armenia’s GDP to grow by 4.2% in 2012-2013, World Bank Country Manager for Armenia, Jean-Michel Happi, said to a news conference today.
According to him, the forecast is based on several factors, first of all on World Bank’s projection of a 4%-4.5% inflation. Mr. Happi added, however that in light of the crisis in Europe, the economic outlook will be updated periodically. According to him, the Armenian economy continues to remain vulnerable to external shocks because of its openness, and it can also affect the future prognosis.He said the forecasts may be affected also by possible decline in prices of major Armenian export commodities, slashing foreign investments, reducing remittances from abroad due to slowdown in Russia and Europe. The Armenian government projection of economic expansion for 2012 is 4.2%, inflation forecast is 4 ± 1.5%. -0-
