Armenia economy to grow 3% in 2018, EDB saysFebruary 21, 2018 - 16:03 AMT PanARMENIAN.Net - Armenia's GDP is expected to rise by 3% in 2018, the Eurasian Development Bank said in its forecast on Wednesday, February 21. According to the country’s budget for 2018, the economy will expand by 4.5%. Inflation, meanwhile, is expected at a level of 3.4% (year-on-year in December), the EDB said in it quarterly Macroeconomic Review. The authors of the review note that the EDB countries have demonstrated positive growth rates due to improved external developments, the gradual softening of their monetary policies, and fiscal incentives. As at the end of 2017, the region’s GDP grew by 1.8%, compared to a decline of 0.1% in 2016. Mutual trade is recovering, too. In January-November 2017, trade between the Eurasian Economic Union’s (EAEU) countries totaled US $48.8 billion, or 126.4% of the figure recorded in the same period of the previous year. Monetary policy is also demonstrating certain success. In December, the year-on-year inflation rates reached a record low of 4.6% in Belarus and 2.5% in Russia. In other countries of the region, they did not exceed the set targets. The member states of the Bank are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. According to the United Nations, the economy of Armenia is expected to expand by 3.8% in 2018 and by 3.6% in 2019. 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 | Turkey extends military presence in Azerbaijan The Turkish parliament has adopted a bill submitted by Recep Tayyip Erdogan to extend the mandate of Turkish troops. Russia to begin assessing migrant workers' speaking skills Rosobrnadzor is planning to change the Russian language exam for migrant workers and include an assessment of speaking skills Armenian, Saudi Foreign Minister meet in Riyadh The two commended the positive dynamics of the development of political dialogue between Armenia and Saudi Arabia Pashinyan: Azerbaijan’s proximity shouldn’t worry border residents At the same time, he said that he “does not guarantee [the security of villagers] one hundred percent”. |