“We expect total consumption to fall sharply as COVID-19 restrictions and declining incomes continue throughout 2020. Given that the pandemic and the decline in oil production are expected to continue in the coming months, we forecast a deeper decline in GDP in 2020 than before in June, but a gradual recovery in 2021 as demand and oil prices rise," the report on the ADB website says.Note that the adjusted expectations of the ADB on the rate of GD...
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In a significant diplomatic move, President Kassym-Jomart Tokayev of Kazakhstan embarked on an official visit to Armenia, marking a pivotal moment in the relationship between the two nations. The meeting between President Tokayev and Armenian Prime Minister Nikol Pashinyan resulted in the signing of a joint statement aimed at fostering cooperation and easing tensions that had simmered between the two countries.
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