The World Bank forecasts a 4.3% GDP growth in Armenia in 2019 against an estimated 5.3% in 2018.
On the global level, economic growth is projected to soften from a downwardly revised 3 percent in 2018 to 2.9 percent in 2019 amid rising downside risks to the outlook, the World Bank said.
Activity in Europe and Central Asia is estimated to have slowed to 3.1 percent in 2018, reflecting weakness in Turkey in the second half of the year.
Excluding Turkey, regional growth held steady at a 2.9 percent pace, as slowing activity in the western part of the region, including in Bulgaria and Romania was offset by an acceleration in the eastern part of the region, which benefitted from higher oil prices.
Growth in the western part of the region, excluding Turkey, is projected to slow. Growth in the eastern part of the region is also anticipated to slow as large economies including Russia, Kazakhstan, and Ukraine decelerate.