- Key Facts
- Board of Governors
- Board of Directors
- Departments and Offices
- Policies and Strategies
- Annual Meetings
- Independent Evaluation
- News & Events
- Data & Research
- Industry and Trade
- Information and Communication Technology
- Public Sector Management
- Social Protection
- Capacity Development
- Climate Change
- Environmental Sustainability
- Gender and Development
- Poverty Reduction
- Private Sector Development
- Regional Cooperation and Integration
- Social Development
- Urban Development
- Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA)
- Central Asia Regional Economic Cooperation (CAREC)
- Greater Mekong Subregion (GMS)
- Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT)
- South Asia Subregional Economic Cooperation (SASEC)
- European Representative Office
- Japanese Representative Office
- North American Representative Office
- Pacific Liaison and Coordination Office
- Pacific Subregional Office
Countries with Operations
- China, People's Republic of
- Cook Islands
- Kyrgyz Republic
- Lao PDR
- Marshall Islands
- Micronesia, Federated States of
- Papua New Guinea
Armenia's economy grew strongly in 2012. Prudent fiscal and monetary policies helped control inflation, narrow deficits in the budget and current account, and keep the ratio of external public debt to gross domestic product (GDP) manageable. Growth will likely continue over the medium term if the government implements plans to accelerate structural reform and mobilize revenues essential for prudent social and development expenditures.
|Selected Economic Indicators (%) - Armenia||2013||2014|
Current account balance
(share of GDP)
Source: ADB estimates.
Government estimates showed economic growth accelerating to 7.2% in 2012 from 4.7% in 2011, with all supply-side sectors of the economy expanding.
On the demand side, growth was driven mostly by higher private consumption, while total investment and net exports reduced growth.
With the outcome of the February 2013 presidential elections signaling the maintenance of current policies, continued but more moderate growth is expected in 2013 and 2014. Assuming continued structural reform and no further worsening of global economic conditions, GDP growth is projected at 4.5% in 2013 and 4.6% in 2014. Growth could be slower if external risks, including a further slowdown of growth in the Russian Federation and possible recession in the euro area, materialize.
Source: ADB. 2013. Asian Development Outlook 2013. Manila.