EDB forecasts 5.4% GDP growth for Armenia in 2017August 18, 2017 - 17:11 AMT PanARMENIAN.Net - The Eurasian Development Bank (EDB) in its July edition of macroeconomic indices predicted a 5.4% economic growth for Armenia in 2017. According to the report, in June 2017 Armenia’s agricultural sector expanded by 3.4% year-on-year, while construction dropped by 4.4% y/y. Meanwhile, negative foreign trade balance in the first half of 2017 exceeded that of the same period last year by 30% ($190 million). Annual inflation for June amounted to 1.1%, the report said, adding that it will grow to 2.3% at the end of the year. The state budget surplus in June amounted to AMD 1.7 billion, the report said. Armenia’s economy grew by 0.2% in 2016, with the government eying a 3.2% GDP growth in 2017. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |