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World Bank: Armenia GDP to register 2.7% growth in 2017

World Bank: Armenia GDP to register 2.7% growth in 2017

PanARMENIAN.Net - Armenia will post a 2.7% real GDP growth in 2017, the World Bank said in its January edition of Global Economic Prospects: Weak Investment in Uncertain Times.

The Bank’s previous projections, published in June 2016, envisaged a 2.8% hike.

According to the report, the country’s GDP will grow by 3.0% in 2018 and 3.2% in 2019.

The January 2017 Global Economic Prospects forecasts a subdued recovery in 2017 after the weakest year since the financial crisis.

World economic growth is projected to pick up to 2.7 percent in 2017 from a sluggish rate of 2.3 percent in the year just ended.

East Asia and the Pacific and South Asia—emerging and developing economy regions that are home to many commodity-importing economies—are projected to experience solid growth.

India is seen as sustaining a growth rate above 7 percent, while China is anticipated to expand 6.5 percent.

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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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