The growth forecast for the region was increased to 4.7 percent in 2021 from a previous projection of 4.1 percent in September.

Azerbaijan has until now paid scant attention to the growing worldwide wave of renewable energy sources.

The disputed communication links lie at the heart of the talks --- the talks have focused on a rail and road link between Azerbaijan and its exclave of Nakhchivan.

Armenia's GDP growth is expected to reach 5.5 percent in 2021 and 5.25 percent in 2022, while inflation is projected to moderate in 2022 from its recent highs.