News
Newsfeed
News
Wednesday
October 27
Show news feed

The Asian Development Bank (ADB) has published its Asian Development Outlook (ADO) 2019 Update forecast.

Accordingly, the ADB forecasts GDP growth of 7.1% in the world this year, as well as 5.2% in Armenia for 2021 and 3.5% for 2022, as the country’s economy recovered faster than anticipated during the first half of the year.

Agriculture expanded by a strong 7.1% on higher crop production. Services grew by 5.3%, with increases in trade, transportation, food, and administrative and real estate services. Construction grew by 5.5%, while industry grew by 1.3% due to gains in mining and quarrying, electricity generation, and water and waste management. Private consumption in Armenia also expanded by 5.4% on higher remittances, and public consumption grew by 3.2% with higher spending on social services. Investment, measured by gross fixed capital formation, surged by 9.5% on higher government and private capital spending.

Inflation in developing Asia is expected to remain in check, at 2.2% this year and 2.7% in 2022. The current trend of higher international commodity and food prices could stoke inflation in some of the region’s economies.

!
This text available in   Հայերեն and Русский
Print
Read more:
All
Photos