ArmInfo. The Board of Directors of the International Monetary Fund (IMF) decided yesterday to allocate Armenia $ 280 million to fight the coronavirus pandemic, Prime Economic Information Agency reports citing the fund's press  service.

ArmInfo.S&P predicts a 2% drop in GDP in Armenia in 2020, against an actual growth of 7.6% in 2019. And in 2021, according to S&P expectations, Armenia's GDP will grow by 4.9%. 

ArmInfo.According to the results of 2020, a 2% decline in Armenia's GDP is expected. Prime Minister Nikol Pashinyan announced this on May 16 at a press  conference in Yerevan.

ArmInfo.In Armenia, economic activity in the first quarter of 2020 compared to the first quarter of 2019 slowed to 4%. According to the final data of the Statistical Committee of the Republic of Armenia, the energy complex - 14.8% and the industrial sector - 8.7%, and to a lesser extent the services sector - 5.7% and the trade sector - 0.2%, acted as growth drivers, and the agricultural sector out of the decline by 4 , 5% growth, and this time the construction sector turned in the direction of recession - 9.4%. Compared to last year's pace, growth accelerated in the industrial sector, growth slowed down in the services and trade sectors, exit from recession to growth in the agricultural sector and energy sector, and a turn from growth to decline in the construction sector. A year earlier, in January-March 2019, compared to January-March 2018, economic activity slowed down from 10.6% to 6.5%, amid a decline in exports by 8.6% and imports by 3.1%. Growth was then recorded to a greater extent in the services sector - by 17.3%, the construction sector - by 10.8%, the trade sector - by 10.1%, amid the modest growth of the industrial sector by 2%, and the decline in the agricultural sector and energy sector by 0.2% and 14% respectively. Meanwhile, in March 2020, compared with February (on a monthly basis), economic activity was in stagnation (against a 14.8% growth in March 2019). Moreover, in addition to the construction sector, which showed an increase of 14%, all other industries have declined:  the energy sector - 15.4%, the services sector - 5.3%, the trade sector - 3.5% and the industrial sector - 2%, and in the agricultural sector statistics for the month are not indicated. A year earlier, in March 2019 compared with February, all sectors showed growth: the construction sector - 61.1%, the industrial sector - 16.1%, the services sector - 10.8%, the energy sector - 9.3%, the trade sector - 6, 7%, and for the agricultural sector, data for the month are not available.     In the annual context (March 2020 to March 2019), economic activity unfolded from a 6.2% increase to a 4.7% decline. This is due to the deterioration of dynamics in all sectors, and a particularly impressive decline was recorded in the construction sector - by 26.2%, followed by a downward trend: trade - 9.9%, services - 4.3%, industrial sector - 1, 9%, the energy sector - 1%, and data on the agricultural sector are not given in the statistical report. A year earlier, in March 2019 to March 2018, these industries were growing with a tendency to slow down:  the service sector - from 18.8% to 16.9%, the retail sector - from 6.3% to 5.3%, the industrial sector - from 8.2% to 2.2%, the energy complex - from 6.9% to 3.4%, the construction sector - from 23.2% to 0.5%. According to the statistics in the first quarter of 2020, the trading sector holds the leadership in absolute terms with the volume of 657.5 billion drams ($ 1.4 billion). The second place in terms of services is 452.4 billion drams ($ 937.9 million), the third is the industrial sector - 450.4 billion ($ 933.8 million), the fourth is the agricultural sector - 73.6 billion drams ($ 152.6 million), and the fifth is the construction sector - 43.9 billion drams ($ 91 million). The volume of electricity generation in January-March 2020 amounted to 2083.3 million kWh, of which only in March - 622 million kWh. The industrial production price index decreased in January-March 2020 compared to the same period last year by 0.1%, only in March it decreased by 0.4%, and compared with March 2019 it decreased by 1.7%, while As a year earlier, the dynamics was as follows: in January-March 2019 - an increase of 0.3% y / y, in March - an increase of 0.7%, compared with March 2018 - an increase of 3%. At the same time, the foreign trade turnover of Armenia in the I quarter of 2020 amounted to 753.9 billion drams ($ 1565.1 million) with an annual decline of 4%. In its structure, the volume of exports underwent annual growth of 0.2% to 262.4 billion drams ($ 544.9 million), while imports - a decline of 6.2% to 491.5 billion drams ($ 1020.2 million). In March 2020 alone, foreign trade turnover decreased by 7.9% due to a decline in exports by 13.3% and imports by 4.9%. In March 2020 to March 2019, the decline in exports by 17.4% and imports by 15.3%, reduced foreign trade by 16%. A year earlier, in January-March 2019, foreign trade turnover experienced an annual decline of 5% due to a decline in imports by 3.1% and exports by 8.6%; in March 2019, imports grew by 8.8% and exports by 7.5% ensured an increase in foreign trade turnover by 8.4%, compared with March 2018, a decrease in foreign trade turnover by 0.4% was triggered by a decline in exports by 2.5% with an increase in imports by 0.8%.  The average settlement rate of dram in March 2020 was 489.01 dr / $ 1, and in January-March - 482.32 dr / $ 1, against 487.48 dr / $ 1 in March 2019 and 487.23 dr / $ 1- in January-March 2019 It should be noted that the RA government forecasts a 2% drop in GDP for 2020.  According to WB forecasts, Armenia's GDP growth in 2020 will amount to 1.7% (according to the baseline scenario), but the likelihood of a recession is not excluded. In terms of Armenia's foreign trade, the WB forecasts for 2020 a decline in exports and imports by 1.5% and 2.6%, respectively. The IMF predicts a 1.5% drop in GDP in Armenia for 2020. The CBA forecast foreshadows a slowdown in GDP growth in 2020 to a stagnant 0.7% (from the actual 7.6% growth in 2019). Recall that in Armenia, as part of measures to prevent the spread of the coronavirus pandemic, a state of emergency was introduced from March 16, which will last until May 14 inclusive. In this regard, some activities in the first month of emergency were imposed a temporary ban, which was partially lifted in the second half of April.   

ArmInfo.According to the IMF forecast, the decline in GDP in 2020 will be more significant in the countries neighboring with Armenia. Namely, in Georgia GDP is  expected to fall by 4%, in Azerbaijan - by 2.2%, in Iran - by 6%, in  Turkey - by 5%. In Armenia, GDP is projected to fall by 1.5%.

ArmInfo.In September 2020, Armenia will have to repay the last tranche of Eurobonds of the year2013. On April 28, Minister of Finance of the Republic of Armenia  Atom Janjughazyan stated this from the rostrum of the National  Assembly of the Republic of Armenia while presenting amendments to  the Law "On the State Budget of 2020".

ArmInfo.In Armenia, economic activity in January-March 2020 compared to January-March 2019 slowed to 4%.

ArmInfo.The previous forecast of the Central Bank on GDP growth was voiced based on the solution of issues relevant at that time. On April 16, Martin Galstyan, candidate  for the post of chairman of the Central Bank of Armenia, said this  the National Assembly of the Republic of Armenia.

ArmInfo. Martin Galstyan as a candidate for the post of chairman of the Central Bank of Armenia delivered his first speech at the National Assembly of the Republic  of Armenia. Galstyan's candidacy was proposed by the ruling "My Step"  faction.  In his speech, he emphasized that today's reality is  unprecedented in the modern era of the history of mankind. The  governments of all countries, as noted by Galstyan, today are doing  everything possible to save lives, not stopping at huge economic  losses.

ArmInfo. According to the new World Bank forecast, the GDP growth of Armenia in 2020 will be 1.7% (according to the baseline scenario), with acceleration in 2021 to  4.5% and in 2022 to 4.7%. This is stated in the WB economic report  "Fighting Covid-19. ECA Economic update''.  

ArmInfo. An International Monetary Fund (IMF) team led by Nathan Porter conducted discussions on the second review of Armenia's reform program supported by the IMF  Stand-By Arrangement (SBA) during March 12-April 8, 2020, the press  release of the IMF informs.  At the conclusion of the mission, Mr.  Porter issued the following statement:

ArmInfo.The International Monetary Fund (IMF) forecasts a drop in Armenia's GDP in 2020 at 1.5%. The negative GDP forecast is associated with restrictions on  internal mobility and activity due to the COVID-19 pandemic, a  significant decrease in external demand, tightening financial  conditions and due to disruptions in global trade and supply chains. 

ArmInfo. The gross international reserves of Armenia decreased in the Q1 of 2020 by 9.4% or $ 267.6 million, amounting to $ 2.582 billion. This is evidenced by the data  of the Central Bank of Armenia. Of these, the lion's share - $ 2.579  billion falls on external assets in hard currency, and the share of  SDR in the IMF amounted to $ 2.7 million.

ArmInfo. According to the forecast of the Central Bank of Armenia, the impact of coronavirus on the economy will slow down the growth of Armenia's GDP in 2020 to a  stagnant 0.7% (from the actual 7.6% growth in 2019). In 2021, growth  is expected to recover to 7.2%. This is stated in the Central Bank's  monetary policy program for the first quarter of 2020, published  today.

ArmInfo. In Armenia in January-February 2020, economic activity increased by 8.7% compared to the same period in 2019, against previous year's 6.5% growth.   According to preliminary data of the RA Statistical Committee, y-o-y  growth was provoked to a greater extent by the industrial sector and  the energy complex.

ArmInfo.In 2020, the global economy will face a recession that will be worse than the global financial crisis of 2008-2009, said Kristalina Georgieva, head of the International Monetary Fund (IMF), following an emergency teleconference with the heads of central banks and finance ministries of the G20 countries.

ArmInfo.In January-February 2020 the gross international reserves of Armenia decreased by 6.4%, amounting to $ 2.659 billion. This is evidenced by the data of the  Central Bank of Armenia. The lion's share of these - $ 2.655 billion,  are foreign assets in hard currency, and the share of SDR in the IMF  amounted to $ 4.1 million. According to the regulator's report,  foreign assets in hard currency for the reporting two months  decreased by 6.3%, and the share of SDR in the IMF decreased by  33.9%.  

ArmInfo. Chairman of the Central Bank of Armenia Arthur Javadyan left for Amsterdam to  participate in a high-level conference organized by the Central Bank  of the Netherlands on the topic "Opportunities for developing  financial systems and existing challenges".

ArmInfo. According to preliminary  data, the economic growth in Armenia in 2019 formed 7.6%, Armenian Deputy Prime Minister Tigran Avinyan mentioned on his   social networks pages. According to him, this is the highest  indicator  since 2008.

ArmInfo. The volume of industrial production in Armenia in 2019 compared to 2018 accelerated growth to 9% (against a slowdown in 2018 from 12.6% to 4.3%),  amounting to 2.104 trillion. drams ($ 4.4 billion). The acceleration  of the upward dynamics was provoked by the trend of the mining sector  from recession to growth with continued growth in the manufacturing  industry. In December 2019 alone, industrial production increased by  14.7% (against an increase of 12.5% in December 2018) with a volume  of 247.8 billion drams ($ 518.2 million).