Armenia's GDP expected to expand by 4.8% in 2020 – EDBSeptember 12, 2020 - 16:38 AMT PanARMENIAN.Net - Armenia's GDP is expected to grow by 4.8% in 2020, the Eurasian Development Bank said in its recent forecast. EDB analysts have assessed the impact of the Covid-19 pandemic on the dynamics of key macroeconomic indicators in the Bank's member countries. According to the report, the coronavirus outbreak had a strong impact on the cyclical development of the countries in the first half of 2020. The bank said economic activity in Armenia, Kyrgyzstan and Tajikistan was significantly affected by the decline in remittances, an important source of consumer spending. Armenia's economy expanded by 7.9%, while economic activity amount to 7.8% in 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 | U.S. welcomes Armenia, Azerbaijan’s border delimitation announcement Blinken said it is an important step towards concluding a durable and dignified peace agreement. Residents Of border villages protest as Armenia, Azerbaijan agree on delimitation Residents of several Armenian communities in the northeastern Tavush province began protests late on Friday. European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. |