Armenia's economy shrinks 9.1% year-on-year in Q3November 25, 2020 - 14:08 AMT PanARMENIAN.Net - Armenia’s economy shrank 9.1% year-on-year in Q3, after a 13.7% contraction in Q2, preliminary data from the National Statistical Service reports. The backslide comes amid the Covid-19 pandemic and after a six-week war between Azerbaijan and Nagorno-Karabakh. The decline in July-September was the result of contractions in almost all sectors of the economy besides mining, health and social service, education, communication, financial and insurance sector. Armenia's economy had expanded 7.6% in 2019. The Central Bank has forecast that the economy would contract 6.2% in 2020 and get back to 4%-5% growth in 2021. 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 | About 32,000 rally in Yerevan to deman Pashinyan’s resignation About 31,700 people attended an opposition rally on Thursday, May 9 in Yerevan demanding the resignation of Prime Minister Nikol Pashinyan. Armenian, Azerbaijani Foreign Minister to meet in Almaty Armenian Foreign Minister Ararat Mirzoyan and his Azerbaijani counterpart Jeyhun Bayramov will meet in Almaty. Viva-MTS: Tech solutions to modernize infrastructure of border village The border village has been the focus of Viva-MTS and the Foundation for the Preservation of Wildlife and Cultural Values since 2015. Ucom's fixed network launched in Artashat To mark this occasion, the company has introduced a special offer exclusively for Artashat residents. |