  EBRD predicts modest growth of Armenian economy in 2014 November 13, 2013 - 17:32 AMT PanARMENIAN.Net - The Armenian economy is expected to grow modestly in 2014 after a sharp slowdown this year, the EBRD said in its latest Regional Economic Prospects report. Growth had been affected by delays in public infrastructure spending and a significant increase of prices of Russian gas and related tariffs hikes. GDP growth is now seen at 2.5 per cent in 2013 after 7.1 per cent in 2012. The latest 2013 forecast represents a further downward revision from May when the EBRD was predicting 4 per cent growth. The revisions are largely driven by the worsening outlook for Russia and its knock-on effects in the region and on its trading partners. However Armenia’s GDP growth is expected to recover modestly to 3.5 per cent in 2014 as remittance inflows have remained strong and Armenia’s decision to seek membership of the Eurasian Customs Union may bring about a reduction of natural gas prices. Related links:   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 Russia provides info about arrested Armenian ex-MP  Russian law enforcement agencies have provided information about the arrest of Tigran Urikhanyan.Lemkin Institue slams Pashinyan's “cryptic engagement with Genocide denial” The Lemkin Institute is alarmed over Pashinyan’s statements “questioning Armenia's legal basis to pursue justice against Turkey”.41 detained as antigovernment protests continue in Yerevan 41 people were detained in Yerevan as people demanding Pashinian’s resignation stage campaigns of civil disobedience.Armenia votes for UN resolution granting Palestine new rights The U.N. General Assembly voted by a wide margin on May 10 to grant new “rights and privileges” to Palestine. |
