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The International Monetary Fund (IMF) expects Armenia’s GDP to grow by 3,2 percent in 2016, and by 3,4 percent in 2017, says the Fund’s Regional Economic Outlook for the Middle East and Central Asia.

Armenia has benefited from a stronger than expected recovery in exports to Russia (which propelled total exports up by 16,7 percent to $815 mln in the first half of 2016). But domestic growth remains weak.

Armenia, as well as neighboring Georgia, is expected to have a weaker inflation, due to slack economic activity, as well as lower prices of food and fuel. However, in 2017 inflation is expected to pick up almost twofold, in line with economic recovery.

The inflation in the period between January and December 2016 is expected to be 0.5 percent, rising to 2.5 percent in 2017. The budget deficit against the GDP in 2016 and 2017 is expected to make up 4.5 and 3.0 percent respectively. As to the correlation of taxes to GDP, they are expected to amount to 20.5 in 2016 and 20.7 percent in 2017. 

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