IMF raises Armenia's growth outlook for 2018 to 6%October 9, 2018 - 14:26 AMT PanARMENIAN.Net - The International Monetary Fund has raised Armenia's growth outlook for 2018 from 3.4% to 6%, the IMF said in its October issue of the Challenges to Steady Growth report. According to the Fund, the country's economy will grow by 4.8% in 2019 instead of the 3.5% forecasted earlier. Inflation, meanwhile, is projected at 3% in 2018 and at 4.4% in 2019. IMF revealed in an earlier post that the size of the shadow economy in Armenia in 2015 was smaller than those of the country’s South Caucasus neighbors - Azerbaijan and Georgia. According to the survey titled “Shadow Economies Around the World: What Did We Learn Over the Last 20 Years?”, Armenia’s shadow economy was estimated to be 36% in 2015, against the 43.6% in Azerbaijan and 53% in Georgia. 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 | Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |