World Bank boosts Armenia growth forecast for 2018 to 3.8%January 10, 2018 - 11:23 AMT PanARMENIAN.Net - Armenia will post a 3.8% GDP growth in 2018 and a 4% growth in both 2019 and 2020 after an estimated 3.7% expansion in 2017, the World Bank said in its January edition of Global Economic Prospects. In last year’s June edition, however, the bank forecasted a 2.7% growth for 2017 and 3.1% for 2018. According to the WB, the rise in production and export of metals contributed to the country’s development, reflecting higher metal prices and improved domestic conditions. Armenia’s economy expanded just 0.2% in 2016. The government first expected to register a 3.2% growth in 2017 but revised its forecast later in the year. No official data is available for now. Meanwhile, the international financial institution said Azerbaijan’s economy declined by 1.4% in 2017 and will grow 0.9% in 2018, while Georgia is expected to see a 4% growth in 2018. Globally, the Bank forecasts economic growth to edge up to 3.1% in 2018 after a much stronger-than- expected 2017. 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 | European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Cyprus parliament honors Armenian genocide victims Acting House President Zacharias Koulias noted that April 24 marks the “black anniversary” of the Armenian genocide. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. |