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WORLD BANK PREDICTS ARMENIAN ECONOMIC GROWTH WILL SLOW
Interfax, Russia
June 22 2006
YEREVAN. June 22 (Interfax) - Armenian economic growth will slow in
the next few years, the World Bank said in a report on Eastern Europe
and Central Asia.
The World Bank forecasts that Armenia GDP will grow 5.6% in 2008
against 14% in 2005. High world oil prices and a drop in foreign
transfers will hinder economic growth.
The experts said the main economic risks are connected with a strong
strengthening in the national currency. They said any foreign upheaval
could lead to a sharp devaluation in the dram, which would have a
negative effect on the country's economy.
The World Bank is predicting a drop in economic growth for almost all
of the countries in the region, however oil exporting countries will
do better, including Russia, Kazakhstan, Azerbaijan and Romania. High
oil prices will help form a budget surplus in these countries.
The World Bank predicts that the Armenian budget deficit will be close
to European standards of up to 3% of GDP. The budget deficit was 1.7%
of GDP in 2005.
Interfax, Russia
June 22 2006
YEREVAN. June 22 (Interfax) - Armenian economic growth will slow in
the next few years, the World Bank said in a report on Eastern Europe
and Central Asia.
The World Bank forecasts that Armenia GDP will grow 5.6% in 2008
against 14% in 2005. High world oil prices and a drop in foreign
transfers will hinder economic growth.
The experts said the main economic risks are connected with a strong
strengthening in the national currency. They said any foreign upheaval
could lead to a sharp devaluation in the dram, which would have a
negative effect on the country's economy.
The World Bank is predicting a drop in economic growth for almost all
of the countries in the region, however oil exporting countries will
do better, including Russia, Kazakhstan, Azerbaijan and Romania. High
oil prices will help form a budget surplus in these countries.
The World Bank predicts that the Armenian budget deficit will be close
to European standards of up to 3% of GDP. The budget deficit was 1.7%
of GDP in 2005.