Asian Development Bank: Armenia Annual GDP Growth Forecast Moderates
The Asian Development Outlook 2019 Update forecast by the Asian Development Bank has been published.
According to the report, Armenia’s gross domestic product (GDP) growth moderated from 8.7% year on year in the first half of 2018 to 6.8% in the same period of this year—still robust, reflecting buoyant domestic demand, news.am reports.
Industry excluding construction performed strongly, expanding by 5.2% as growth in manufacturing and mining outweighed lower electricity production.
Construction grew by 3.5%, largely from higher household construction.
Services rose by 9.8% on strong gains in information technology, finance, insurance, and recreation.
Unfavorable weather constrained agriculture, which, having contracted by 8.5% in the whole of 2018, contracted further by 6.9% in the first half of 2019.
According to the theme chapter of the report, to remain engines of economic growth and jobs, developing Asia’s burgeoning cities need efficient transport networks and affordable housing backed by effective and coordinated land and economic planning․
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- IMF staff reaches staff-level agreement with Armenia on precautionary Stand-By Arrangement The proposed arrangement will support the government’s economic program to achieve investment-driven, knowledge-based, and export-led growth, while preserving macroeconomic, fiscal, and financial stability...
- Over 1 trillion in taxes paid by 1000 top corporate taxpayers in 9 months The top 1000 corporate taxpayers paid a total of more than 1 trillion 82 billion 627 million drams in the reporting period.
- S&P Global Ratings reaffirms Armenia’s sovereign ratings with "stable" outlook According to the statement, the stable economic growth of Armenia, the decline in geopolitical risks, the strengthening of Armenia’s external position and the slower rate of foreign debt accumulation...
- EBRD Raises Growth Forecast for Armenia’s Economy for 2022 In its latest Regional Economic Prospects (REP), the EBRD said that the economies of Armenia, Azerbaijan and Georgia are enjoying some of their highest growth rates in years.
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