Armenia needs to produce unique products to boost economic growth potential - Central Bank head

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Economy

29.10.2024, 17:24

Armenia's economy has a growth potential and everything possible should be done to boost it, Central Bank head Martin Galstyan said.

Armenia needs to produce unique products to boost economic growth potential - Central Bank head

YEREVAN, 29 October. /ARKA/. Armenia's economy has a growth potential and everything possible should be done to boost it, Central Bank head Martin Galstyan said.

‘We need to focus on making us a country that produces more unique products, so that the goods and services we produce become more sophisticated, which suggests their higher profitability,’ he said at a press conference on Tuesday..

Armenia's economic growth is envisaged at 7 per cent in the 2024 state budget. The Central Bank expects it between 6.5-5.8 per cent in 2024. The draft state budget drawn up for 2025 envisages economic growth of 5.6%.

. The WB expects Armenia's economy to grow by 5.5% in 2024 and 5% in 2025. The IMF forecasts 6% growth in 2024 and 4.9% in 2025. EBRD forecasts a re 6.2% 4.8% respectively.-0-

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