WB forecasts biggest GDP growth for Armenia in South CaucasusJanuary 9, 2020 - 13:08 AMT PanARMENIAN.Net - The January 2020 edition of the World Bank’s Global Economic Prospects (GEP) report is out now to predict a 5.1% GDP growth for Armenia in 2020, and 5.2% in 2021 and 2022. The Azerbaijani and Georgian economies, meanwhile, are forecasted to expand by 2.3% and 4.3%, respectively. The report says growth in the South Caucasus is forecast to decelerate, however estimations of Armenia’s economic growth are pretty solid at this stage. Firming growth in the South Caucasus, to an estimated 3.7 percent in 2019, was supported by private consumption, and on the supply side by strong manufacturing growth, as well as by a recovery in mining production in Armenia, the World Bank says. The international financial institution said in December that Armenia's GDP grew by a strong 7.9% year-on-year in the third quarter of 2019. 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. |