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Economy / Armenia

Macroeconomic Forecast Armenia

January 2012 | Macroeconomic Forecasts

Major global macroeconomic risks are set to keep Armenian growth subdued in 2012. The Armenian government is currently forecasting real GDP growth of 4.4% in 2012, according to its latest budget assumptions, exceeding the IMF's 4.0% forecast, and well beyond our below-consensus 2.0% forecast for economic growth this year. Although 2013 should offer slightly improved macroeconomic conditions for Armenian growth, we caution that the ongoing eurozone sovereign debt crisis and intensifying economic headwinds confronting the Russian economy could result in a more depressed growth outlook over the coming years.

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