The Eurasian Development Bank (EDB) in its July edition of macroeconomic indices predicted a 5.4% economic growth for Armenia in 2017.

According to the report, in June 2017 Armenia’s agricultural sector expanded by 3.4% year-on-year, while construction dropped by 4.4% y/y.

Meanwhile, negative foreign trade balance in the first half of 2017 exceeded that of the same period last year by 30% ($190 million).

Annual inflation for June amounted to 1.1%, the report said, adding that it will grow to 2.3% at the end of the year.

The state budget surplus in June amounted to AMD 1.7 billion, the report said.

Armenia’s economy grew by 0.2% in 2016, with the government eying a 3.2% GDP growth in 2017.