Armenia, Georgia overtaking Azerbaijan with per-capita GDP growthJanuary 10, 2019 - 17:13 AMT PanARMENIAN.Net - Georgia overtook Azerbaijan in terms of GDP per capita in 2018, while Armenia is expected to achieve the same in 2020, according to a new report from the World Bank. The reports "Global Economic Prospects: Europe and Central Asia" was published the WB on Tuesday, January 10. According to data for 2017, Azerbaijan was the leader in the region in terms of GDP per capita ($4131), while Georgia and Armenia followed with $4,078 and $3,937, respectively. The World Bank estimates the growth of the Azerbaijani economy in 2018 at 1.1%, that of the Armenian and Georgian economies at 5.3%. Thus, Georgia will top the other two countries with $4,294 GDP per capita, Azerbaijan and Armenia will come in the second and third ($4,176 and $4,145, respectively). According to the WB's forecast, the annual growth rate of the Armenian economy will stand at 4.3% in 2019, 4.6% in 2020-2021. Azerbaijan's economy, meanwhile, will grow at a rate of 3.6%, 3.3% and 2.7% in 2019-2021. If the Bank's predictions are correct, by 2019 the difference between per-capita GDPs in Armenia and Azerbaijan will fall to a statistical error of $2-3, and in 2020 the figure will be $4,523 in Armenia and $ 4,470 in Azerbaijan. According to the forecast, in 2021 Georgia will come close to $ 5,000 per capita, in Armenia the figure will be slightly lower at about $4,730, at about $4,590 in Azerbaijan. 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 | Turkey extends military presence in Azerbaijan The Turkish parliament has adopted a bill submitted by Recep Tayyip Erdogan to extend the mandate of Turkish troops. Russia to begin assessing migrant workers' speaking skills Rosobrnadzor is planning to change the Russian language exam for migrant workers and include an assessment of speaking skills Armenian, Saudi Foreign Minister meet in Riyadh The two commended the positive dynamics of the development of political dialogue between Armenia and Saudi Arabia Pashinyan: Azerbaijan’s proximity shouldn’t worry border residents At the same time, he said that he “does not guarantee [the security of villagers] one hundred percent”. |