IMF upgrades Armenia's economic growth outlook to 3.2% in 2016October 5, 2016 - 13:20 AMT PanARMENIAN.Net - In its fresh issue of World Economic Outlook, the International Monetary Fund has upgraded outlook for Armenia’s economic growth in 2016 to 3.2% and in 2017 to 3.4%, ARKA reports. In its previous report issued in April 2016, the IMF expected Armenia’s GDP would grow 1.9% in 2016 and 2.5% in 2017. The IMF also forecasts 0.5% deflation in 2016 and 2.5% inflation in 2017. Unemployment rate is expected to rise from 17.7% in 2015 to 17.9% in 2016 and 18% in 2017. In the Armenian government budget for 2016, economic growth is projected at 2.2%. In recent days, Vardan Aramyan, the country’s finance minister, said GDP growth was expected to stand at 2.4% in 2016 and 3.2% in 2017. The World Bank expects a 1.9% economic growth in Armenia in 2016. The European Bank for Reconstruction and Development says economic growth in Armenia will be recorded at 2 and the Eurasian Development bank says it may reach 2.6% this year. Fitch’s outlook stands at 2% and Moody’s expects a GDP growth slowdown to 2.2%. The Central Bank of Armenia expects 2.7 to 3.6% economic growth. According to the National Statistical Service of Armenia, 1.5% economic growth was recorded in the country in the second quarter of this year against the 4.5% recorded in the first quarter. 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 | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |