World Bank predicts 5.3% GDP growth for Armenia in 2018October 27, 2018 - 13:44 AMT PanARMENIAN.Net - Real GDP growth in Armenia is expected to moderate to 5.3 percent in 2018, reflecting strengthening headwinds in the country's main trading partners, the World Bank said in its new forecast. According to the new data, GDP expanded by 8.3 percent in the first half of 2018, benefiting from robust external an domestic demand and elevated copper prices. Inflation will edge up but remain within the CBA target range, while the current account deficit will widen on account of a higher import bill, WB said. "Armenia’s economy continued to grow strongly in 2018, reflecting robust external demand, favorable metal prices, higher investment, and strengthened private consumption," the Bank said. "Improvements in labor markets and remittance inflows are estimated to have lowered poverty to prefinancial crisis levels." 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 | 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”. |