Global economy to grow by 3.1% in 2017, new report suggestsFebruary 2, 2017 - 12:12 AMT PanARMENIAN.Net - Global GDP will grow by 3.1 percent this year and 3.5 percent in 2018 according to a forecast published by the UK’s National Institute of Economic and Social Research. In 2016, global GDP grew by 3 percent, the slowest growth since the 2009 recession, the Warsaw Business Journal says. The US economy will grow by 3.1 and 3.5 in 2017 and 2018 respectively, according to the report, China’s will expand by 2.1 and 2.2 percent, while Japan economy will reach 6.4 and 5.9 percent growths. In the euro zone, the GDP will rise by 1.5 in 2017 and 2018, while the UK will have 1.7 and 1.9 percent GDP growth. “Inflation has picked up in the advanced economies, mainly reflecting the upturn in global energy prices. The threat of deflation has receded, but inflation remains below targets, markedly so in Japan and the euro zone, requiring continuing accommodative monetary policies. The recent rise in wage growth in the US adds to evidence that the economy’s employment and output gaps have shrunk,” the report explained. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Narek Manasyan wins European Boxing Championships silver for Armenia Armenia’s Narek Manasyan (92kg) won Armenia’s second silver medal at the European Boxing Championships 2024 on April 28. Blinken urges Azerbaijan to continue negotiations with Armenia Secretary of State Antony J. Blinken has urged Azerbaijani President Ilham Aliyev to continue negotiations with Armenia. Pashinyan, Blinken talk Armenia-U.S. ties over the phone Prime Minister Nikol Pashinyan had a phone conversation with US Secretary of State Antony Blinken on April 28, Pashinyan’s office reports. Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. |