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#CONTRACTION

Economy

World Bank: Armenia experienced one of region’s sharpest GDP contractions of 7.6 percent in 2020

In 2020, Armenia experienced one of the region’s sharpest GDP contractions—7.6 percent—as a severe COVID-19 outbreak and a military conflict with Azerbaijan late in the year impacted performance, according to World Bank's latest 'Europe and Central Asia Economic Update, Spring 2021' report.

31.03.2021, 15:06

Economy

Economy minister expects 8.5 contraction for 2020

Armenia's Economy Minister Vahan Kerobyan said today he expects the economy to contract by 8.5% in 2020. Speaking to reporters, he said the largest decline of 20% was reported by imports, exports and consumption.

14.01.2021, 17:48