The World Bank forecasts 4.8 percent economic growth in Armenia in 2022.
Following a strong rebound in 2021, the global economy is entering a pronounced slowdown amid fresh threats from COVID-19 variants and a rise in inflation, debt, and income inequality that could endanger the recovery in emerging and developing economies, according to the World Bank’s latest Global Economic Prospects report.
Global growth is expected to decelerate markedly from 5.5 percent in 2021 to 4.1 percent in 2022 and 3.2 percent in 2023 as pent-up demand dissipates and as fiscal and monetary support is unwound across the world.
Growth in Europe and Central Asia region is forecast to slow to 3 percent in 2022 – about half the pace in 2021 – as tighter macroeconomic policy and recurrent COVID-19 outbreaks, including from Omicron, weigh on demand. Regional growth is forecast to continue to ease in 2023, reaching 2.9 percent, as fiscal support continues to be withdrawn.