IMF forecast: Economic downturn in Armenia to accelerate

12:36 - 17.12.2020


December 17, Fineko/abc.az. The International Monetary Fund gave a pessimistic forecast for Armenia, stating about decrease of its GDP by 7.3%.

ABC.AZ reports that according to the IMF, this year it expects that GDP production in Armenia will fall more than by $1 bn to $12.66 bn.

For comparison, according to the IMF, Armenia's GDP production was $13.673 bn in 2019. As for unemployment, this indicator is expected to reach 24.1% in Armenia this year, and the figure can be considered a historical anti-record. Last year, this indicator made up 18.9%.