Prospects of economic growth in South Caucasus countries

The United Nations has released a report evaluating the global economic situation and its prospects for 2012. The document predicts a slow-down in former Soviet economies, due to a larger decline in growth in the world economy as whole. Developed economies are also expected to struggle. The UN estimates GDP growth in Georgia to be 5% in 2012, and 4.6% in 2013. Armenia will see 4.1% growth in 2012 and 4.4 % in 2013. In Azerbaijan, the 2012 and 2013 numbers are expected to be 4% and 3.9%, respectively.