Despite the 6.2 percent and 6.4 percent forecasts made in October, the 2014 and 2015 real growth in the GDPs of the countries of the Caucasus and Central Asia will be reduced all the way to 5.5 percent and 5.6 percent, respectively. 

RIA Novosti news agency of Russia reported the aforementioned citing the International Monetary Fund (IMF) report on the prospects of regional economies.          

As per the IMF, the further escalation of the geopolitical tension between Russia and Ukraine may have significant implications for these countries in the short and medium term.

According to the IMF experts, the 2014 and 2015 economic growth will be 5.6 percent and 5.7 percent, correspondingly, in the region’s oil-exporting countries, whereas 4.6 percent and 4.9 percent, in that order, in the oil-importing countries, including Armenia.