Armenia economic activity shrank 7.2% in January-NovemberDecember 25, 2020 - 17:10 AMT PanARMENIAN.Net - Economic activity in Armenia shrank by 7.2% in the first eleven months of 2020 year-on-year, data from the National Statistical Service reveals. Economic activity in the country has contracted as a result of a lockdown imposed in mid-March in a bid to curb the Covid-19 outbreak, as well as the war in Nagorno-Karabakh. In November alone, the economic activity contracted by 10.3% against the same period last year. In January-November 2020, construction and trade declined by 11.2% and 13.5%, respectively, while the services sector shrank by 13.6%. The National Statistical Committee also revealed that the country's GDP in the third quarter of 2020 registered a preliminary decline of 9.1% year-on-year. 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 | Lemkin Institute petition seeks release of Armenians in Azerbaijan The Lemkin Institute is deeply concerned about the continued illegal detention of political prisoners from Karabakh in Azerbaijan. Armenian Catholicos calls for national unity against threats Karekin II issued a message on Republic Day marking the anniversary of the First Armenian Republic. Pashinyan: Armenia’s desired goal is “on the horizon” Prime Minister Nikol Pashinyan has said that Armenia is moving forward “without interruption”. Opposition leader, supporters spend night at Sardarapat memorial Police made nearly 300 arrests the day before as Galstanyan and his supporters continued to demonstrate in Yerevan. |