EBRD revises upward its forecasts for Armenia from 4.5% to 4.6%July 23, 2010 - 12:40 AMT PanARMENIAN.Net - The European Bank for Reconstruction and Development (EBRD) revised upward its GDP growth forecasts for Armenia from 4.5% to 4.6%, according to the EBRD economic outlook for Eastern and Central Europe, as well as Central Asia. 4% average growth will be recorded in 2010 in economies of Eastern Europe and Caucasus, what is explained by the “effect of low base” (7.8% decrease was recorded in these countries in 2009). Meanwhile, EBRD forecasts 3.5% average economic growth in 2010 for the entire region (30 countries), after 6.1% drop in 2009 and against 2.5% growth predicted in October. The growth in forecasts is conditioned by stronger indices of four economies of the region – Poland, Turkey, Russia and Kazakhstan – due to increase in prices for raw materials and resumption of capital flows into developing markets. At the same time, the economic recovery will proceed at a slow pace for majority of the region’s countries, which do not export raw materials. Besides, GDP drop is expected in some countries (Hungary and the Baltic countries) in 2011. 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 | About 173 million drams and more than 30 beneficiary funds. "The Power of One Dram" is 4 years old In June 2020, the exclusive joint corporate social responsibility initiative of Idram and IDBank "The Power of One Dram" was launched. Aliyev travels to Turkey at Erdogan's invitation On June 10, Azerbaijani President of Azerbaijan Ilham Aliyev will leave for Turkey on a working visit. CSTO budget “to be adjusted due to Yerevan’s non-payment of contributions” The CSTO budget for the current year requires adjustments due to the refusal of Yerevan to pay their share of contributions. Russia sends note of protest to Armenia over envoy’s trip to Ukraine’s Bucha Russia has sent a note of protest to Armenia over the visit of Vladimir Karapetyan and Tigran Ter-Margaryan to Bucha. |