Transcription of COUNTRY PROGRAM SNAPSHOT - World Bank
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COUNTRY PROGRAM SNAPSHOT - World Bank
0 World bank Group Armenia Partnership April 2015 COUNTRY PROGRAM SNAPSHOT 1 RECENT ECONOMIC AND SECTORAL DEVELOPMENTS Growth Performance Low growth continued during 2014. After losing steam toward the end of 2013, the economy slowed further to around percent in 2014 (see figure 1), as the decline in the construction and mining sectors more than offset the growth in agriculture, manufacturing, and services. Figure 1. Real GDP Growth (percent) -15-10-505101520072008200920102011201220 132014 Industry as a whole stagnated in the same period. The mining sector shrank by percent, and the energy sector experienced an even larger decline ( percent).
3 concentration is not high, and further consolidation of the banking sector is expected during 2015–16 in response to the CBA’s capital
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