  IMF predicts Armenia's economy will shrink by 1.5% in 2020 April 15, 2020 - 16:03 AMT PanARMENIAN.Net - The International Monetary Fund issued its 2020 World Economic Outlook Tuesday, April 15, which says Armenia's economy will shrink by 1.5%. The organization predicts the global economy will shrink by 3% this year and that the world’s economic output will plummet $9 trillion over two years. IMF also said that the economies of Georgia and Azerbaijan will dwindle by 4.0% and 2.2%, respectively. The Asian Devlopment Bank and the World Bank, however, had both predicted that the country's economy will grow in 2020. ADB had said that the economic growth in Armenia is projected to slow from "the unusually high rate" of 7.6% achieved in 2019 to 2.2% in 2020 due to the impact of COVID-19. The World Bank, meanwhile, had forecasted 1.7% GDP growth in the reporting period.   Top stories The foreign ministers of Armenia and Azerbaijan, Ararat Mirzoyan and Jeyhun Bayramov, have arrived in Washington. The CSTO budget for the current year requires adjustments due to the refusal of Yerevan to pay their share of contributions. Six total incidents have burned 19 old-growth trees. Friday night 8 trees were torched along the beautiful main entrance. The EU does not intend to conduct military exercises with Armenia, Lead Spokesperson for EU Foreign Affairs and Security Policy Peter Stano says.   Partner news |  Related sections Latest news Viva sees growing demand for cloud services  In recent years, medical institutions are starting to make use of Viva’s cloud servicesTurkey replacing term "Central Asia" with "Turkestan" in textbooks The Turkish Ministry of Education is replacing the term "Central Asia" with "Turkestan" in textbooks.Armenia assumes presidency of Mediterranean Network of Regulatory Authorities The Commission on Television and Radio of Armenia said it expects productive cooperation in various formats.Balance of attached cards in the Idram&IDBank app From now on, users will be able to view the online balances of cards issued by ArCa system banks and attached to the app. |
