Armenia's GDP expected to expand by 4.8% in 2020 – EDBSeptember 12, 2020 - 16:38 AMT PanARMENIAN.Net - Armenia's GDP is expected to grow by 4.8% in 2020, the Eurasian Development Bank said in its recent forecast. EDB analysts have assessed the impact of the Covid-19 pandemic on the dynamics of key macroeconomic indicators in the Bank's member countries. According to the report, the coronavirus outbreak had a strong impact on the cyclical development of the countries in the first half of 2020. The bank said economic activity in Armenia, Kyrgyzstan and Tajikistan was significantly affected by the decline in remittances, an important source of consumer spending. Armenia's economy expanded by 7.9%, while economic activity amount to 7.8% in 2019. 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 | 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. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |