Armenian cenbank forecasts 7% GDP drop due to Artsakh war and COVID-19 situation

YEREVAN, OCTOBER 27, ARMENPRESS. The Armenian Central Bank has revised its September predictions of a 6,2 drop in the GDP and has forecast around 7% GDP drop due to the ongoing war in Artsakh and the growing COVID-19 situation, cenbank president Martin Galstyan said.

Earlier today the cenbank’s board decided to keep the refinancing rate unchanged at 4,25%.

Editing by Stepan Kocharyan