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 | 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. |