IMF upgrades Armenia's economic growth outlook to 3.2% in 2016October 5, 2016 - 13:20 AMT PanARMENIAN.Net - In its fresh issue of World Economic Outlook, the International Monetary Fund has upgraded outlook for Armenia’s economic growth in 2016 to 3.2% and in 2017 to 3.4%, ARKA reports. In its previous report issued in April 2016, the IMF expected Armenia’s GDP would grow 1.9% in 2016 and 2.5% in 2017. The IMF also forecasts 0.5% deflation in 2016 and 2.5% inflation in 2017. Unemployment rate is expected to rise from 17.7% in 2015 to 17.9% in 2016 and 18% in 2017. In the Armenian government budget for 2016, economic growth is projected at 2.2%. In recent days, Vardan Aramyan, the country’s finance minister, said GDP growth was expected to stand at 2.4% in 2016 and 3.2% in 2017. The World Bank expects a 1.9% economic growth in Armenia in 2016. The European Bank for Reconstruction and Development says economic growth in Armenia will be recorded at 2 and the Eurasian Development bank says it may reach 2.6% this year. Fitch’s outlook stands at 2% and Moody’s expects a GDP growth slowdown to 2.2%. The Central Bank of Armenia expects 2.7 to 3.6% economic growth. According to the National Statistical Service of Armenia, 1.5% economic growth was recorded in the country in the second quarter of this year against the 4.5% recorded in the first quarter. 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 | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. Mkhitaryan raises arrest of former Karabakh leaders in Azerbaijan Inter Milan star Henrikh Mkhitaryan has shared a news story about the extension of the arrest of former Karabakh leaders. |