Europe & Central Asia
Armenia
Before the COVID-19 pandemic, Armenia was making gradual improvements to its business environment and establishing a track record of prudent macroeconomic policy management. Economic growth was strong, averaging 6.8 percent during 2017-19.
Armenia’s progress was derailed in 2020. It suffered a severe COVID-19 outbreak, with a new surge in the first quarter of 2021, ranking 33rd globally in recorded cases per million population. Meanwhile, the country’s conflict with Azerbaijan escalated to a heavy military confrontation at end-September 2020. Although the November 10th ceasefire halted hostilities, Armenia has since entered a period of heightened domestic political instability.
These twin shocks led to a sharp economic contraction, increased poverty, and fiscal deterioration. Nevertheless, Armenia has maintained overall macroeconomic stability and healthy external buffers through the crisis.
13
Food and Beverage, Renewable Resources and Alternative Energy, Health Care
0.776
How is this information gathered?
SDG Investor Maps employ an 8-step methodology, combining data research and stakeholder consultations to identify Investment Opportunity Areas (IOAs) and potential business models with significant financial and impact potential.
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