World Bank highlights key growth drivers of Armenian economy in July

According to the World Bank’s Armenia Monthly Economic Update, economic activity in July grew by 8.9 percent year-over-year (YoY), up from 6.7 percent YoY in the first half of the year.

The growth was primarily driven by strong performance in construction (up 26.1 percent); services excluding trade (up 11.1 percent); and industry (up 4.2 percent), which rebounded after a 1.2 percent contraction in June.