Armenia placed 114th among world’s richest and poorest countries: reportMarch 4, 2017 - 18:38 AMT PanARMENIAN.Net - Armenia was placed the 114th in the Global Finance’s ranking of the world’s richest and poorest countries for 2016. The tables use IMF data for per capita GDP, adjusted for purchasing power parity (PPP). “GDP-PPP makes for a better comparison of living standards, because PPP takes into account cost of living and inflation rates, rather than just exchange rates, which may distort the real differences in income. This is the measure most economists prefer for comparing living conditions and economic strength across countries,” Global Finance says. Based on this principle, Armenia, with a per capita GDP (PPP) of $8,881, took the 114th position, lagging behind Georgia in the 108th, Azerbaijan in the 71st, Turkey and Iran in the 63rd and 70th, respectively. The richest five countries in the world are, in order, Qatar, Luxembourg, Macao, Singapore and Brunei Darussalam. Similarly, the poorest five are, in order, Central African Republic, Democratic Republic of the Congo, Burundi, Liberia and Niger. Top stories The number of state universities will be reduced from 23 to 8 by 2030, Minister of Education, Science, Culture and Sport Zhanna Andreasyan has said. From September 21 to November 11, a total of 2,820 Russians registered at a place of residence in Armenia, the police has said. The situation on the contact line between Karabakh and Azerbaijan was relatively stable overnight, the Defense Army says. Defense Minister Suren Papikyan has visited the southern Armenian province of Syunik, the Defense Ministry reported on March 18. Partner news | Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenia, Russia discuss life extension of Metsamor nuclear plant Issues regarding the extension of life of the 2nd power unit of the Armenian Nuclear Power Plant were discussed in Yerevan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. |