Armenia central bank has upgraded its 2023 growth forecast from 5.8% to 6.9% due to stronger-than-anticipated growth in services and construction sectors. The revised forecasts project 7.8% growth in services and 15.7% in construction this year. Meanwhile, several international bodies, such as the EBRD, ADB, IMF, and World Bank, have diverse growth forecasts for Armenia, ranging from 4% to 6.5%.