Armenia will post a 2.7% real GDP growth in 2017, the World Bank said in its January edition of Global Economic Prospects: Weak Investment in Uncertain Times.
The Bank’s previous projections, published in June 2016, envisaged a 2.8% hike.
According to the report, the country’s GDP will grow by 3.0% in 2018 and 3.2% in 2019.
The January 2017 Global Economic Prospects forecasts a subdued recovery in 2017 after the weakest year since the financial crisis.
World economic growth is projected to pick up to 2.7 percent in 2017 from a sluggish rate of 2.3 percent in the year just ended.
East Asia and the Pacific and South Asia—emerging and developing economy regions that are home to many commodity-importing economies—are projected to experience solid growth.
India is seen as sustaining a growth rate above 7 percent, while China is anticipated to expand 6.5 percent.