World Bank predicts 4.3% GDP growth for Armenia in 2019March 22, 2019 - 13:12 AMT PanARMENIAN.Net - The World Bank has released its Country Economic Update Winter 2019 report on Armenia, titled "A strong mandate for change amid a global slowdown". "Under the baseline scenario, real GDP growth will slow further in 2019, to 4.3 percent," the bank said in the report. "Growth will be supported domestically by a slightly higher fiscal deficit, strong credit growth from a healthy financial sector, more open markets, and improved business and consumer confidence. Externally, the report says, lower but still positive growth in Russia will support remittance inflows, tourism earnings, and goods exports. As the impact of expected reforms takes hold, GDP growth will gradually accelerate over the medium term (Table 1). With growth moderating in 2019, and with envisioned macroeconomic policies, the inflation rate is expected to remain within the CBA target range (4 percent +/- 1.5 percent)," the WB said. The International Monetary Fund, meanwhile, expects Armenia's economic growth to slow to 4.5 percent this year from 5.2 percent in 2018, reflecting the weaker global environment and copper prices, the fund's representative said recently. 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 | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |