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Forecast: Armenia`s economy to shrink by 6.2% by end of 2020

12.10.2020,17:55


October 12, Fineko/abc.az. Vusal Gasimli, the executive director of the Center for Analysis of Economic Reforms & Communications, addressed companies that carry out illegal activities in the Azerbaijani lands occupied by Armenia, as well as in Armenia itself.

ABC.AZ reports that Gasimli noted that investments in Armenia and the occupied lands serve to preserve 20% of Azerbaijan's territory under occupation, kill civilians and destroy civilian infrastructure: “Financing the militaristic economy of Armenia is contrary to business culture and international law.

High external debt, balance of payments and balance of payments deficits, low credit rating and declining economic growth, as well as constant disputes between foreign investors and the government should be a signal for businessmen who want to invest in Armenia. Credit agency Fitch forecasts that the Armenian economy will shrink by 6.2% by the end of 2020, and the total public debt to GDP will increase to 63.9%, and by the end of 2021 to 65.6%.”