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Julian Milek, Nikolas Schmidt, Dr Marius Clemens

Dampened recovery in the context of uncertainty

  • Armenia
FOR 01 | 2021
Macroeconomic Analyses and Forecasting
  • Recovery process after COVID-19 and military conflict in 2020 protracted, mainly due to uncertainty; economy on lower growth path, pre-crisis levels not reached until 2023
  • 2021: Private consumption and investment weak in 2021, main growth impact comes from government spending (expected to be higher than in current budget plan)
  • 2022: Armenia catches up, as world economy recovers and political uncertainty subsides, stimulating external trade and private investment, respectively

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