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EBRD upgrades GDP growth forecast for Armenia

EBRD upgrades GDP growth forecast for Armenia

PanARMENIAN.Net - The European Bank for Reconstruction and Development (EBRD) released an economy development forecast for Eastern Europe and Central Asia, downgrading general economy growth up to 3% for 2013.

Contrary to positive expectations, Ukraine was given the worst forecast of a 1% growth. Bosnia, Herzogovina and Croatia were the only ones with lower growth projections (0,8%.) A 0,1% and 2 drop is expected in Hungary and Slovenia respectively.

EBRD has upgraded its outlook for Armenia’s GDP growth to 5%; Azerbaijan was given a 4% increase forecast; Russia’s GDP will also grow to 3,5%.

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He said that his government would also focus on fighting corruption and "eliminating all barriers that impede business from developing".
“We have a simple problem:we prepare 400-500 specialists each year, while there is demand for 2000 professionals," he said.
At Shirak airport in the northern Armenian town of Gyumri, traffic soared by 150% in the reporting period against 2016.
“The investments will be spent to build a canning factory and slaughterhouses, expand greenhouse farms,” Ignati Arakelyan said.
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