Armenia, Georgia overtaking Azerbaijan with per-capita GDP growthJanuary 10, 2019 - 17:13 AMT PanARMENIAN.Net - Georgia overtook Azerbaijan in terms of GDP per capita in 2018, while Armenia is expected to achieve the same in 2020, according to a new report from the World Bank. The reports "Global Economic Prospects: Europe and Central Asia" was published the WB on Tuesday, January 10. According to data for 2017, Azerbaijan was the leader in the region in terms of GDP per capita ($4131), while Georgia and Armenia followed with $4,078 and $3,937, respectively. The World Bank estimates the growth of the Azerbaijani economy in 2018 at 1.1%, that of the Armenian and Georgian economies at 5.3%. Thus, Georgia will top the other two countries with $4,294 GDP per capita, Azerbaijan and Armenia will come in the second and third ($4,176 and $4,145, respectively). According to the WB's forecast, the annual growth rate of the Armenian economy will stand at 4.3% in 2019, 4.6% in 2020-2021. Azerbaijan's economy, meanwhile, will grow at a rate of 3.6%, 3.3% and 2.7% in 2019-2021. If the Bank's predictions are correct, by 2019 the difference between per-capita GDPs in Armenia and Azerbaijan will fall to a statistical error of $2-3, and in 2020 the figure will be $4,523 in Armenia and $ 4,470 in Azerbaijan. According to the forecast, in 2021 Georgia will come close to $ 5,000 per capita, in Armenia the figure will be slightly lower at about $4,730, at about $4,590 in Azerbaijan. 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 | Russia clarifying reports on Baku’s alleged arms supply to Ukraine Russia says is carefully working to verify reports about alleged arms supplies from Azerbaijan to Ukraine Russia warns Armenia against “falling into West’s trap” Zakharova maintained, however, that anything that will benefit the people of Armenia can only be welcomed. CSTO: Armenia has not participated in secretariat’s work recently Recently Armenia has not participated in the work of the secretariat of the CSTO, Imangali Tasmagambetov said. Meeting with U.S., EU not against third parties, says Armenia The meeting scheduled for April 5 is dedicated to strengthening of the Armenia-EU-US cooperation, Yerevan added. |