Greek economy drops in Q3 amid difficult bailout talksFebruary 14, 2017 - 19:05 AMT PanARMENIAN.Net - The Greek economy unexpectedly shrank in the three months to December, latest figures show, according to BBC News. Output fell by 0.4% in the final quarter of the year, compared with growth of 0.9% in the third quarter. Analysts had been expecting the growth to continue. The country is in the throes of difficult bailout talks with international creditors. Overall, eurozone growth was revised down to 0.4% for the fourth quarter. An initial estimate had put the growth rate at 0.5%, but the estimate was reduced partly as a result of slower than expected growth in Germany. However, Germany's 0.4% growth rate in the final quarter of 2016 was still better than the 0.1% rate recorded in the previous three months. A separate report from the German economy ministry said that rising orders in manufacturing and construction pointed to "solid" growth in the first three months of 2017. "Economic indicators are pointing to a solid start for the year 2017," it said. "However, uncertainties remain especially in the trade environment. The outlook for the global economy remains subdued." 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 | 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. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |