Economy Central Bank of Armenia The official website of the Central Bank of Armenia provides valuable financial information including topics such as: national currency, monetary policy, financial systems and supervision, credit registry, financial operations, payment systems and also includes a financial monitoring centre. Armenia's central bank said on Tuesday it expected the economy to contract by 6.2% in 2020 due to the negative impact of the coronavirus pandemic, but it should get back to 4-5% growth next year. Armenia’s consumer price index declined by 0.1% in August, month-on-month, but rose 1.8% year-on-year. The country of around 3 million people, has registered 46,119 confirmed coronavirus cases and 920 deaths from COVID-19. Armenia Jump to. The Key Indicators for Asia and the Pacific publication presents data regarding the economic, financial, social, and environmental situations in a broad range of countries across the region. The country’s gross domestic product per capita was less than $4,000 in 2019. The economy has contracted sharply in 2020 as a result of the coronavirus pandemic but we are expecting a recovery by end-2021. China has failed to deliver investment on the scale that some imagined but its involvement in the region is significant. The electoral bloc of Nikol Pashinian won 70.4% of the vote in the December 2018 snap parliamentary election. The Asian Development Bank (ADB) is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Turkey’s involvement in the Armenian-Azerbaijani conflict fits the government’s increasingly assertive foreign policy. “The central bank is inclined to continue the weakening of the monetary conditions in the future given expected economic developments,” Galstyan said. Global Economic Prospects. The government's policy agenda is to fight corruption and improve the business environment. He said annual inflation was expected to be around 2.5% in 2020 and in a range of 1.7%-2% in 2021. YEREVAN, Sept 15 (Reuters) - Armenia’s central bank said on Tuesday it expected the economy to contract by 6.2% in 2020 due to the negative impact of the coronavirus pandemic, but it should get back to 4-5% growth next year. All quotes delayed a minimum of 15 minutes. ADB's country partnership strategy for Armenia will encourage technological modernization and innovation, an improved business environment, private sector investment, and inclusive growth. Average Monthly Temperature 1901 - 2009 (C) Average … Armenia’s economic contraction of 5.7 percent in the first half of 2020 was driven by a 9 and 31 percent sharp contraction of private consumption and investment, respectively, which was only partially offset by higher government spending and import compression. (Reporting by Nvard Hovhannisyan; Editing by Ed Osmond). Five days on, the ceasefire agreement may already be in tatters, putting the onus on Russia to increase its involvement. It assists its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development. We do not expect the Armenian and Azerbaijani authorities to reach a peaceful resolution any time soon. Most economies in eastern Europe are not adequately equipped to withstand a second coronavirus wave. The Asian Development Outlook analyzes economic and development issues in developing countries in Asia. It is the worst-affected country in the South Caucasus region. Tensions with Azerbaijan over the disputed territory of Nagorny Karabakh have increased sharply since September and the risk of return to all-out war has increased. Armenia joined the Russia-led Eurasian Economic Union in January 2015, but has remained interested in pursuing closer ties with the EU as well, signing Comprehensive and Enhanced Partnership Agreement with the EU in November 2017. Tensions with Azerbaijan over the disputed territory of Nagorny Karabakh have increased sharply since September and the risk of return to all-out war has increased. “The contraction is mostly connected to the construction and agriculture spheres,” Martin Galstyan, the central bank head, told a news conference. Turkey has contributed to Armenia’s economic plight by keeping the border between the two countries sealed.

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