The Asian Development Bank describes the state of Armenia’s economy with restrained optimism.
The report, concerning the post-Soviet territory and the economic prospects of a number of Asian countries says: “In the first quarter of 2012 4.7 percent of the GDP growth was recorded, the basis of which was the industry, as well as sectors of services and agriculture. The construction sector continues to remain stagnant.”
Official recourses report that dynamics of volumes of export and private consumption is positive, but the “public spending and investments compared to the previous year have decreased.”
“Observations on industry, agriculture and export allow increasing the forecast of the economic growth in 2013 to 4.5 percent,” say the authors of the report.
In the case of Azerbaijan, the Asian Development Bank is much more pessimistic, as the decrease in the volume of extracted oil threatens expectations for the future growth. However they note that oil industry continues to provide income for Azerbaijan’s economy.
Among the three South Caucasian states in the best economic situation, according to representatives of the Asian Bank, is Georgia. The fastest growing sector of the Georgian economy is construction.
