It’s no secret that Armenia’s economy is in dire straits.

Along with the fall in foreign investment and the rise in government debt, Armenia’s GDP during the 3rd quarter of 2016 has fallen 2.6% when compared to the same period last year.

For the 1st quarter of 2016, the country’s GDP increased by 4.3%. The 2nd quarter saw a 1.6% increase.

Armenia’s Economic Activity Index (EAI), measured every month, stood at 0.4% in October. Given that GDP and EAI measurements don’t differ much, a downward trend in the EAI doesn’t bode well for any uptick in the economy by year’s end.

Armenia’s National Statistical Service will publish its 2016 GDP findings early next year.

Armenia’s GDP increased by 3% in 2015.