IMF forecasts 3.5% economic growth for Armenia

The International Monetary Fund (IMF) has released its updated World Economic Outlook databases, revising upwards its GDP growth forecast for Armenia from 2.9% to 3.5%.

The Washington-based IMF predicts 1.9% inflation rates in Armenia in 2017. The inflation forecast for 2018 is 3.5%.

According to the IMF report, Azerbaijan is the only former Soviet republic whose economy will see 1% decline in 2017. Russia will see 1.8% growth, while Georgia’s economy will grow by 4%.

The highest economic growth is forecast for Turkmenistan (6.5%) and Uzbekistan (6%).