IMF raises Armenia’s GDP growth rate forecast to 7 per cent

The International Monetary Fund (IMF) forecasts Armenia's GDP growth rate at seven per cent in 2023.

In April, the IMF expected Armenia’s GDP to grow by 5.5 per cent this year, Interfax reports, citing the October World Economic Outlook. Navigating Global Divergences, published by IMF on October 10.

According to the IMF’s forecasts, the Armenian economy will grow by five per cent in 2024, while by 4.5 per cent (both figures correspond to the April forecast) in 2028.

The Armenian state budget for 2023 envisages seven per cent GDP growth. The country's economy grew by 14.2 per cent in 2022.