// IP Marketing video - START// IP Marketing video - END

ADB forecasts GDP growth slowdown in Armenia

ADB forecasts GDP growth slowdown in Armenia

PanARMENIAN.Net - Armenia’s GDP growth acceleration for 2012-2013 will be restricted by weakening of economies of European countries and their possible negative impact on Russia, which is the key source of remittances to the country, according to Asian Development Outlook annual report published on Asian Development Bank (ADB) official website.

ADB forecasts up to 3,8% slowdown in GDP growth in 2012 and acceleration up to 4,2% in 2013.

“Structural political reforms are already implemented with creation of electronic inventory of property among them. Automated construction permit will help boost the investment climate,” ADB experts say.

“Inflation will drop to 4,1% in 2012 and will rise to 4,5% in 2013,” they say.

“Continuation of reforms in tax and customs sector and improvement of business environment will ensure sustainable economic growth and diversification of economic base, though the products of reforms may take quite long,” the financial institute advises.

 Top stories
"There is ample proof that Monsanto's sprays have poisoned our environment contributing drastically to dying off of bees," Tankian said.
Armenia ranks 47 on the ease of doing business index against the 38 spot last year, the World Bank Group’s annual Doing Business report said.
Mountea, an Armenian company producing tea from the mountain herbs has begun to export its products to Russia.
20,149 optical-mechanical devices were manufactured in the reporting period against the 3,388 produced in the same period last year.
Partner news