  EBRD forecasts economic slowdown in Armenia March 7, 2012 - 18:45 AMT PanARMENIAN.Net - European Bank for Reconstruction and Development (EBRD) forecasts slowdown in Armenian economy. “Despite the fact that the situation in Armenia is stable, we expect slowdown in GDP growth,” Managing Director of European Bank for Reconstruction and Development (EBRD) for Turkey, Eastern Europe, Caucasus and Central Asia told a press conference on March 7. In this context, he added that economists foretell 3% GDP growth in Armenia in 2012. According to Olivier Descamps, Armenia managed to restore its economy following the previous crisis due to implementation of cautious fiscal policy. “This ensured continued growth of GDP and decline in inflation,” he said.   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 |  Latest news U.S. warns Georgia not to side with Moscow against the west  Georgia has been warned by the U.S. not to become an adversary of the west by falling back in line with Moscow.Power of One Dram sums up two-year program with Teach for Armenia Idram Junior also joined the companies during the visit, bringing with it a fascinating intellectual game for childrenMoscow slams EU mission in Armenia for “provocative activity” The EU mission is doing more and more against Armenia’s neighbors Russia, Azerbaijan and Iran, Mikhail Galuzin said.Yerevan Mayor to travel to Paris on May 15-19 The official delegation headed by Yerevan Mayor Tigran Avinyan will travel to Paris from May 15 to 19. |
