YEREVAN. – The economic growth in Armenia is more dynamic in the first three months of 2016, as compared to the year past, Laura Bailey, World Bank (WB) Country Manager for Armenia, stated at a press conference on Thursday.

The WB official added, however, that she cannot say whether these dynamics will continue in the coming months. 

In her words, the WB forecast for Armenia’s 2016 economic growth remains the same, at 2.2 percent.

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Bailey noted that even though the expected natural gas price reduction will not have a significant impact on economic development in the country, it will have an impact on consumers.

The WB representative stated that the lifting of sanctions on Russia can have a greater impact on Armenia’s economy.  

And to the query on whether there is a forecast as to how the present-day war situation in the region will reflect on Armenia’s economic growth, she responded that although the WB does not have such an assessment, the track-record of other countries shows that if such situations last long, they affect overall confidence, and this impacts foreign direct investment.

Laura Bailey stressed, however, that they have not yet observed such effects in Armenia.