World Bank boosts Armenia growth forecast for 2018 to 3.8%January 10, 2018 - 11:23 AMT PanARMENIAN.Net - Armenia will post a 3.8% GDP growth in 2018 and a 4% growth in both 2019 and 2020 after an estimated 3.7% expansion in 2017, the World Bank said in its January edition of Global Economic Prospects. In last year’s June edition, however, the bank forecasted a 2.7% growth for 2017 and 3.1% for 2018. According to the WB, the rise in production and export of metals contributed to the country’s development, reflecting higher metal prices and improved domestic conditions. Armenia’s economy expanded just 0.2% in 2016. The government first expected to register a 3.2% growth in 2017 but revised its forecast later in the year. No official data is available for now. Meanwhile, the international financial institution said Azerbaijan’s economy declined by 1.4% in 2017 and will grow 0.9% in 2018, while Georgia is expected to see a 4% growth in 2018. Globally, the Bank forecasts economic growth to edge up to 3.1% in 2018 after a much stronger-than- expected 2017. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. 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. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. 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. |