Armenia economic activity shrank 4․7% in January-JulySeptember 7, 2020 - 18:04 AMT PanARMENIAN.Net - Economic activity in Armenia shrank by 5․7% in the first seven months of 2020 year-on-year, data from the National Statistical Service reveals. Economic activity in the country has contracted as a result of a lockdown imposed in mid-March in a bid to curb the Covid-19 outbreak. Though the state of emergency has been extended several times, most restrictions have been removed. In July alone, the economic activity contracted by 10.2% against the same period last year. In January-July 2020, construction and trade declined by 22.6% and 11%, respectively, while the services sector shrank by 9.3%. Foreign trade turnover decreased by 11.3% year-on-year, exports and imports were down by 6․4% and 13․7%, 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 | 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. |