EDB analysts: Armenia will lose almost only growth factor in case of drop in metal prices
Azerbaijan, Baku, July 31 / Trend /
In the case of steady decline in metal prices, Armenia will lose almost sole existing growth factor.
According to Mediamax, the quarterly "CIS Macromonitor", published by Analytic Unit of the Eurasian Development Bank (EDB), makes this conclusion.
"In Armenia GDP growth has kept the dynamics, organized in the second half of last year, it exceeded its level for the same period of last year by 4.9 percent. A key driver was the industry, primarily metallurgy (16.6 percent). At the same time, a decline in inflation, which reached a minimum of 6 years (0.5 percent per annum), continued. A notable progress has been made in public finance - state budget deficit fell to 0.2 percent of GDP. However, EDB experts note that in case of sustainable drop in metal prices, the country will lose almost the sole existing growth factor, making its economy vulnerable to the effects of negative external factors," the report says.