Karabakh outruns Armenia, Georgia, Azerbaijan in terms of GDP growth

PanARMENIAN.Net - Nagorno Karabakh (Artsakh) managed to maintain the projected rates of economic development and positive dynamics in the main economic sectors and register a GDP growth of 9.2% in 2016, outperforming all the countries in the South Caucasus region.

According to the data provided by the Artsakh statistical service, the pace of Karabakh’s economic growth has left Armenia, Georgia and Azerbaijan - whose GDP grew by 0.2%, 2.2% and negative 3.8%, respectively - eating dust.

The economic growth in Artsakh is conditioned by an increase in the volume of industrial output by 9.7% in 2016 against 2015.

Ppresident Bako Sahakyan said earlier that the past year was quite difficult for Karabakh, the people and the economy in general. The four-day war in early April was a blow to the country's natural development, affecting almost every sector of the economy, he said.