EBRD forecasts 1.5 per cent GDP growth in Armenia in 2010January 15, 2010 - 13:58 AMT PanARMENIAN.Net - The Åuropean Bank for Reconstruction and Development (EBRD) forecasts 1.3 to 1.5 per cent economic growth in Armenia, said Valeriu Razlog, head of EBRD Yerevan RO."Our forecasts for the Armenian economy in 2010 are a little more optimistic than assessments made by the government. We forecast 1.3 to 1.5 per cent GDP growth in Armenia this year, which is slightly different from the government's estimations," he told a PanARMENIAN.Net reporter. The EBRD does not expect surge of inflation in Armenia this year. According to Mr. Razlog, the rate of inflation in 2010 will be within the limits set by the Central Bank of Armenia. The European Bank for Reconstruction and Development (EBRD) is an international financial institution that supports projects in 29 countries from central Europe to central Asia. Investing primarily in private sector clients whose needs cannot be fully met by the market, the Bank promotes entrepreneurship and fosters transition towards open and democratic market economies. The EBRD is the major investor in Armenia. Its 2009, investments totaled USD 150 million against of the USD 75 million in 2008. So far, EBRD has invested over 335 million euro in the country's economy for implementation of over 70 projects. 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 | Iran’s Red Crescent sends aid to Armenia’s flood-hit regions The Iranian Red Crescent Society has sent humanitarian aid to the victims of deadly floods that hit northern Armenia on May 25-26. Putin congratulates Pashinyan’s birthday Russian President Vladimir Putin congratulated Armenian Prime Minister Nikol Pashinyan on his birthday on June 1. Opposition motorcade en route to Gyumri for large rally A motorcade of protesters headed by Archbishop Bagrat Galstanyan is heading to the city of Gyumri. Ruling MPs, Foreign Minister talk Armenia-Azerbaijan processes MOs from the ruling Civil Contract party met with the Foreign Minister Ararat Mirzoyan in the Armenian parliament. |