Posted: 3 months ago

ADB Forecasts Armenia to Lead Caucasus in Economic Growth with a 5.7% Rise

The Asian Development Bank (ADB) has revised its economic growth projections for the Caucasus and Central Asia for 2024, anticipating a regional average growth rate of 4.3%.

Here's a breakdown of the economic growth forecasts across the region:

  • Georgia is expected to see a growth of 5%;
  • Armenia leads with a projected growth of 5.7%;
  • Azerbaijan's economy is forecasted to grow by 1.2%;
  • Kazakhstan is anticipated to experience a 3.8% growth;
  • Uzbekistan is projected to have a 5.5% growth rate.

For 2025, ADB's forecasts highlight Armenia's continued economic momentum, expecting a 6% growth, outpacing Georgia's anticipated 5.5% growth. Azerbaijan's economy is expected to see a modest increase of 1.6%.