World Bank revises Armenia’s GDP growth forecast to 4.1% in 2018June 6, 2018 - 12:45 AMT PanARMENIAN.Net - Armenia will post a 4.1% GDP growth in 2018 and a 4% growth in both 2019 and 2020 after a 7.5% expansion in 2017, the World Bank said in its June edition of the Global Economic Prospects. In the report’s January edition, however, the WB said the country’s economy will expand by 3.8% this year. The Bank’s new forecast still offers a somewhat duller image compared to that of the government whose program envisages a 4.5% expansion. Azerbaijan's economy, meanwhile, is expected to grow by 1.8% in 2018, while Georgia's is set to expand by 4.5%. The Armenian economy grew by 7.5% in 2017, despite the government's 3.2% forecast after the country registered an economic progress of just 0.2% the year before. 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 | 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. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |