This year Armenia’s economy will register a 3.5 percent decline due to the economic impact of the “Corona” virus pandemic, according to a report published by the European Bank for Reconstruction and Development (EBRD) (Regional Economic Prospects / 2020 May).
At the same time, according to the bank, Armenia’s economy will recover as early as next year, registering a 5.5 percent growth in GDP (Gross Domestic Product).
Georgia’s decline this year will be greater — 5.5 percent, with growth in 2021 amounting to 5.5 percent. Azerbaijan is expected to see a 3 percent decline in 2020 and 3 percent growth in 2021.
According to the bank, Russia is expected to see a 4.5 percent economic decline this year, and 4 percent growth in 2021.
