Ameriabank forecasts about 3 percent growth for Armenia this year
14.06.2017,
15:23
Armenian economy in 2017 will grow by about 3 percent, Ameriabank deputy CEO Gevorg Tarumyan said in an interview with BNE intellinews.
YEREVAN, June 14. /ARKA/. Armenian economy in 2017 will grow by about 3 percent, Ameriabank deputy CEO Gevorg Tarumyan said in an interview with BNE intellinews.
According to him, private sector expenditures declined to some extent in previous years, as a result of which retail banking operations grew moderately, although the retail portfolio of the bank saw a dramatic rise. He noted that last year GDP growth was only 0.5%, but the persistent deflation would make people spend more.
"According to our forecasts, the economic growth in Armenia will be 2-3% or slightly more by the end of 2017. It should be taken into account that elections were held in Armenia this year, although at the moment the situation in the country is calm," Tarumyan said adding that the national currency will be relatively stable.
At the same time, he noted that despite fluctuations in the currency markets of the neighboring countries over the past few years, the situation in Armenia is significantly different.
"Our currency has lost only 16% in value. Therefore, we believe that economic growth will be more stable, and the inflow of foreign investment will increase," Tarumyan said.
Armenian government’s GDP growth projection for this year is 3.2%. World Bank’s forecast is 2.7%, the IMF’s forecast is 2.9%. The projected inflation for 2017 is 4% (± 1.5%).
Ameriabank is a universal bank that provides investment, corporate and retail banking services in the form of a comprehensive package of banking solutions. It is the first investment bank in Armenia, which has been providing a wide range of innovative banking services since 2007.-0-
According to him, private sector expenditures declined to some extent in previous years, as a result of which retail banking operations grew moderately, although the retail portfolio of the bank saw a dramatic rise. He noted that last year GDP growth was only 0.5%, but the persistent deflation would make people spend more.
"According to our forecasts, the economic growth in Armenia will be 2-3% or slightly more by the end of 2017. It should be taken into account that elections were held in Armenia this year, although at the moment the situation in the country is calm," Tarumyan said adding that the national currency will be relatively stable.
At the same time, he noted that despite fluctuations in the currency markets of the neighboring countries over the past few years, the situation in Armenia is significantly different.
"Our currency has lost only 16% in value. Therefore, we believe that economic growth will be more stable, and the inflow of foreign investment will increase," Tarumyan said.
Armenian government’s GDP growth projection for this year is 3.2%. World Bank’s forecast is 2.7%, the IMF’s forecast is 2.9%. The projected inflation for 2017 is 4% (± 1.5%).
Ameriabank is a universal bank that provides investment, corporate and retail banking services in the form of a comprehensive package of banking solutions. It is the first investment bank in Armenia, which has been providing a wide range of innovative banking services since 2007.-0-
