  EBRD forecasts Armenia's economy will shrink by 3.5% May 13, 2020 - 18:09 AMT PanARMENIAN.Net - Armenia's GDP is expected to contract by 3.5% in 2020, according to a fresh report from the European Bank for Reconstruction and Development. However, in its latest Regional Economic Prospects report, the EBRD said the country's economy is expected to bounce back and grow by 5.5% in 2021. Across the regions of the EBRD, economies may contract on average by 3.5%, because of the impact of the coronavirus pandemic, with a rebound of 4.8% possible in 2021. The International Monetary Fund earlier predicted its 2020 World Economic Outlook that Armenia's economy will shrink by 1.5%. The Asian Devlopment Bank and the World Bank, however, forecasted that the country's economy will grow by in 2.2% and 1.7%, respectively.   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 |  Latest news Erdogan wants “realistic road map” for relations with Armenia  Turkish President Recep Tayyip Erdogan has called for a “new realistic road map” for relations with Armenia.Armenia-Azerbaijan: Experts launch work on determining coordinates Expert groups from the countries started the process of determining the coordinates based on geodetic measurements.Yerevan says did not expect CSTO in peacekeeping role Pashinyan has declared that the CSTO would be expected to come to the Armenia-Azerbaijan border as an ally of ArmeniaHenrikh Mkhitaryan wins Serie A title with Inter Inter Milan midfielder Henrikh Mkhitaryan admits that the team have long been imagining clinching Serie A against AC Milan. |
