YEREVAN, April 18. /ARKA/. The IMF’s latest “Global Manufacturing Downturn, Rising Trade Barriers’ report predicts that Armenia’s economy will grow this year by 6% and will drop to 4.8% in 2020. It says inflation in Armenia in 2019 is expected at 1.7%, and at 2.5% in 2020.
In its previous report the IMF predicted that Armenia’s GDP in 2019 would grow by 4.6%, and inflation by 2.1%.
The IMF also predicted 1.1% growth for Russia in 2019, 2.5% for Belarus, 2.7% for Azerbaijan, 3% for Ukraine, 3.5% for Kyrgyzstan . 3.8% for Kazakhstan and 4.6% for Georgia. In general, according to the IMF October forecast, the economies of the Caucasus and Central Asia in 2019 and 2020 will grow by 2.2%.
As for global growth. the IMF has cut its forecast this year to its lowest level since the global financial crisis and recession of 2008-2009 and warned that deepening trade conflicts make the outlook “precarious.”
The IMF predicted the world economy would grow by only 3 percent this year, down from 3.6 percent in 2018 and 0.3 percent below the forecast at its April meeting. Armenian government’s projection of GDP growth for 2019 is 4.9%. Inflation projection is 2.7% .