ArmInfo. IMF and WB forecast 1.5% growth of Russian economy in 2017, however this will not have significant impact on the Armenian economy, Economist, former Head of CBA, Associate Professor of Yerevan State University Bagrat Asatryan stated at the press conference on January 30. He noted that for normal economic development of Armenia Russia's economic growth should exceed 2.5-3%.

ArmInfo. Armenian Gross Domestic product growth cadence in 2017 will form about 2,7 %, the "Prospective of World Economy" WB Report states.  

ArmInfo. The World Bank  will provide Armenia with a USD 50 mln loan under the Fourth  Development Policy Financing (DPF-4) to support the Government's  reforms program across key economic areas. The relevant agreement was  ratified at the Armenian National Assembly's sitting on December 23.     

ArmInfo. The World Bank  will provide US$55 million loan to Armenia developing local economy  and infrastructures. The relevant agreement was ratified by the  Armenian National Assembly on December 16.   

ArmInfo. The European Union  provides technical assistance to Armenia for developing approaches  for managing the state debt, Head of Operational Department at the EU  Delegation to Armenia Hoa -Bin Achemyan told journalists today. 

ArmInfo. The winner of the  tender for construction of water reservoir in Vedi will be announced  in the upcoming days, Chairman of State Department on Water Systems  under Ministry of Energy Infrastructures and Natural Resources Arsen  Harutyunyan told journalists today. 

ArmInfo.

ArmInfo. The World Bank will not lend to Armenia and will develop new strategic plan for cooperation instead, Senior Economist of WB Armenia Office Gohar Gyulumyan told journalists announcing the regular last tranche amounting to $50mln approved by the Board of Directors yesterday within the forth Development Policy Financing.

ArmInfo. The World Bank has revised again the forecast on the economic growth in Armenia in 2016, decreasing it down to zero. Earlier in January the Bank forecasted the GDP growth at 2,2% level, in March - for 2,5%. On June 2017 Laura Bailey, the World Bank's Country Manager for Armenia, stated that  for the current year the Bank forecasts the economic growth of the country at 1,9 % level. To note,  in the recent official WB report the GDP forecast in respect to Armenia kept the 3,1 level.

ArmInfo. To reach positive social effect, Armenia needs GDP 5% annual growth, Gohar Gyulumyan, the senior economist of WB Yerevan office shared her opinion  during press conference held on December 8 in Yerevan.

ArmInfo. Armenia and the World  Bank have signed a US$50 million development policy finance operation  to support the Government's reforms program across key economic  areas, the WB news release says. The Fourth Development Policy  Financing (DPF-4) for Armenia supports a wide range of reforms  promoting fiscal, social and environmental sustainability and  strengthening competitiveness. This is the last operation in a  programmatic series of four DPFs spanning 2013-2016. 

ArmInfo. WB will do its best to support Armenia in implementation of reforms, the World Bank 's  Europe and Central Asia Vice  President Syril Muller said during his meeting with Armenian President Serzh Sargsyan. That was shared to ArmInfo at the press office of the Presidential Staff.

ArmInfo. The state debt of  Armenia increased 10.4% in Jan-Oct 2016 to $5.6 billion (2.7 trillion  drams), as both foreign and internal debt grew. By preliminary data  of the Finance Ministry of Armenia provided to ArmInfo by the  National Statistics Service, the foreign debt grew 5.3% in Jan-Oct  2016 to $4.5 billion (2.2 trillion drams) amid 39.6% growth in the  internal debt to $1.1 billion (505.4 billion drams). On year over  year basis, the foreign debt grew 21.8% and the internal one - 45%.  As a result, the total state debt of Armenia rose 25.6%.  

ArmInfo. According to the  updated forecast of the Central Bank of Armenia (CBA), in 2016  unemployment in Armenia will make up 18.1% (versus the previously  expected 17.8%), according to the CBA's monetary policy program for  Q4 2016. In 2017, the CBA expects unemployment to grow to 18.3%,  whereas in its previous forecast for 2017-2018 the CBA expected  annual decline of unemployment by 0.4 pct points. 

ArmInfo. Armenia's joining EITI international initiative (Extractive Industries Transparency Initiative) will boost and encourage involvement of public sector in the process of decision making in the mining industry, World Bank Consultant of mining sector Narine Tadevosyan stated on the sidelines of the first official session of EITI working group held in Yerevan on November 25.

ArmInfo. The GDP growth rate is projected to reach 3.1 percent in 2016, 3.3 percent in 2017 and 3.6% in 2018, according to the World Bank's Europe and Central Asia Economic Update "Polarization and Popularism". As the global economy rebounds and Russia's recession passes its nadir, economic activity in Armenia is expected to moderately accelerate over the medium term. However, structural weaknesses and the slow recovery of domestic demand due to stagnant remittances will slow its expansion.

ArmInfo. According to the  World Trade Organization rates of growth of world trade will continue  to slacken and at the background of this amount of counterfeit  products will grow. According to the survey held in 2015 these goods  have already accounted for 3% of world trade, Minister of Economy and  Financial Policy of the European Economic Commission Timur Suleimanov  stated on November 22 within the plenary session of the 4th  "Anti-Counterfiet-2016" International Forum. 

ArmInfo. Minister of  Transport, Communications and IT of Armenia Vahan Martirosyan  discussed with World Bank Country Manager in Armenia Laura Bailey  issues of cooperation. 

ArmInfo. On November 11,  the 11th International conference organized by EDB took place in  Moscow. The participants of the events discussed timely issues  related to Eurasian economic integration and structural reforms of  the region's economy. Answering to journalists' questions Chairman of  the Management Board of the Eurasian Development Bank (EDB) Dmitry  Pankin positively assessed economic situation in Armenia and the  growth of indicators. 

ArmInfo. Solar photovoltaic power plants will be built in Armenia, the press office of the Armenian Ministry of Energy Infrastructures and Natural Resources has told ArmInfo.