Monday , 10 May 2021

Armenia’s economy shrank sharply

In the second quarter of 2020, Armenia’s gross domestic product decreased by 13.7 percent.

      According to the information of NAKHCIVANTODAY.COM, citing Armenian media, this was stated in the report of the country’s Statistics Committee.

The reason for such a sharp decline is the restriction of economic activity relating to the coronavirus pandemic. During the first six months of this year, the Armenian economy shrank by 7.1 percent. During this period, the country’s GDP amounted to $ 5.3 billion. Experts predict that the country’s economy may shrink by 7% in 2020.

Translator: Emin Gulmammadov

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