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September 27
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Yesterday, the International Monetary Fund published the July projections for the World Economic Outlook. Former Finance Minister Vardan Aramyan of Armenia on Wednesday wrote this on Facebook.

"'Gloomy and More Uncertain' is how it called the new economic situation under which it downgraded its economic growth projections, compared to the April projections.

As for Armenia, global developments and these projections strengthen my arguments that the current 11.8% increase in [Armenia’] economic activity has significant risks in it. It is mainly the result of exogenic factors—the growth of visitors and financial inflow. And when they weaken or stop, our economy will face considerable difficulties. When it will happen is difficult to say (…), as it is directly related to geopolitical developments. But that we have demand-driven economic growth is a fact that is dangerous," Aramyan added, in particular.

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