Armenia’s economic grows is projected to accelerate to 2.7 percent in 2017, reflecting the sustained expansion of the tradable sectors and a modest recovery in domestic consumption, says a newly released report by the World Bank.

“Medium term growth is projected to average 3-3.5 percent a year, given structural weaknesses in the domestic policy framework, and remaining uncertainties in external environment,” the report says.

The World Bank experts believe that Armenia’s medium-term outlook remains sensitive to internal and external factors, which entail both upside and downside risks.

“Growth prospects depend on the government’s ability to scale up highquality investment, and speed up structural reform.”

As poverty rate, the report says it is projected to fall from 23.8 percent in 2017 to 22.2 percent in 2019.