Global growth has slowed sharply and the risk of financial stress in emerging market and developing economies (EMDEs) is intensifying amid elevated global interest rates, according to the World Bank’s latest Global Economic Prospects report.
World Bank forecasts 4.4% economic growth for Armenia in 2023
STEPANAKERT, JUNE 7 , ARTSAKHPRESS: Global growth is projected to decelerate from 3.1% in 2022 to 2.1% in 2023. In EMDEs other than China, growth is set to slow to 2.9% this year from 4.1% last year. These forecasts reflect broad-based downgrades, the bank said in a press release.
In Europe and Central Asia, growth is expected to edge up slightly to 1.4% in 2023 before increasing to 2.7% in 2024.
Economic growth in Armenia is projected to be 4.4% in 2023, 4.8% in 2024 and 5.0% in 2025.