PanARMENIAN. Net – Armenia’s GDP is expected to grow 4. 8% in 2020, the Eurasia Development Bank said in its forecast.
EDB analysts assessed the effect of the Covid-19 pandemic on the dynamics of key macroeconomic signs in Bank member countries.
According to the report, the coronavirus epidemic had a strong effect on the cyclical progression of countries in the first part of 2020.
The bank said economic activity in Armenia, Kyrgyzstan and Tajikistan had been particularly affected by declining remittances, one of the main customer expenses.
The Armenian economy grew by 7. 9%, while economic activity rose to 7. 8% in 2019.