Armenia economic activity shrank 4․7% in January-JulySeptember 7, 2020 - 18:04 AMT PanARMENIAN.Net - Economic activity in Armenia shrank by 5․7% in the first seven months of 2020 year-on-year, data from the National Statistical Service reveals. Economic activity in the country has contracted as a result of a lockdown imposed in mid-March in a bid to curb the Covid-19 outbreak. Though the state of emergency has been extended several times, most restrictions have been removed. In July alone, the economic activity contracted by 10.2% against the same period last year. In January-July 2020, construction and trade declined by 22.6% and 11%, respectively, while the services sector shrank by 9.3%. Foreign trade turnover decreased by 11.3% year-on-year, exports and imports were down by 6․4% and 13․7%, respectively. 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 | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |