World Bank predicts 4.3% GDP growth for Armenia in 2019March 22, 2019 - 13:12 AMT PanARMENIAN.Net - The World Bank has released its Country Economic Update Winter 2019 report on Armenia, titled "A strong mandate for change amid a global slowdown". "Under the baseline scenario, real GDP growth will slow further in 2019, to 4.3 percent," the bank said in the report. "Growth will be supported domestically by a slightly higher fiscal deficit, strong credit growth from a healthy financial sector, more open markets, and improved business and consumer confidence. Externally, the report says, lower but still positive growth in Russia will support remittance inflows, tourism earnings, and goods exports. As the impact of expected reforms takes hold, GDP growth will gradually accelerate over the medium term (Table 1). With growth moderating in 2019, and with envisioned macroeconomic policies, the inflation rate is expected to remain within the CBA target range (4 percent +/- 1.5 percent)," the WB said. The International Monetary Fund, meanwhile, expects Armenia's economic growth to slow to 4.5 percent this year from 5.2 percent in 2018, reflecting the weaker global environment and copper prices, the fund's representative said recently. 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 | European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Cyprus parliament honors Armenian genocide victims Acting House President Zacharias Koulias noted that April 24 marks the “black anniversary” of the Armenian genocide. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. |