World Bank predicts 5.3% GDP growth for Armenia in 2018October 27, 2018 - 13:44 AMT PanARMENIAN.Net - Real GDP growth in Armenia is expected to moderate to 5.3 percent in 2018, reflecting strengthening headwinds in the country's main trading partners, the World Bank said in its new forecast. According to the new data, GDP expanded by 8.3 percent in the first half of 2018, benefiting from robust external an domestic demand and elevated copper prices. Inflation will edge up but remain within the CBA target range, while the current account deficit will widen on account of a higher import bill, WB said. "Armenia’s economy continued to grow strongly in 2018, reflecting robust external demand, favorable metal prices, higher investment, and strengthened private consumption," the Bank said. "Improvements in labor markets and remittance inflows are estimated to have lowered poverty to prefinancial crisis levels." 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 | 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. Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. |