Armenia economic activity shrank 7.2% in January-NovemberDecember 25, 2020 - 17:10 AMT PanARMENIAN.Net - Economic activity in Armenia shrank by 7.2% in the first eleven 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, as well as the war in Nagorno-Karabakh. In November alone, the economic activity contracted by 10.3% against the same period last year. In January-November 2020, construction and trade declined by 11.2% and 13.5%, respectively, while the services sector shrank by 13.6%. The National Statistical Committee also revealed that the country's GDP in the third quarter of 2020 registered a preliminary decline of 9.1% year-on-year. 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 | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |