World Bank published monthly summary of Armenia's economic update

The World Bank published the monthly update of Armenia's economic development.

Economic growth fell by half in May to 5.2 percent (yoy), down from 10 percent (yoy) in April.

● Non-commercial net money transfers contracted

by 44 percent (yoy) in May.

● Prices picked up for the first time since October

2023, indicating slight inflation in June.

● Strong growth in re-exports of gold and jewelry

continued in May.

● Despite a deficit of AMD 46.4 billion in May, the

cumulative budget remained balanced.

● Growth in commercial banks’ deposits and credits

increased slightly in May.