Armenia’s economic growth scenario for 2016 is immune from risks, minister says
18.11.2015,
17:04
Armenia's economic growth scenario designed for 2016 makes it immune from risks, economy minister Karen Chshmarityan said today when speaking at parliament.
YEREVAN, November 18. /ARKA/. Armenia's economic growth scenario designed for 2016 makes it immune from risks, economy minister Karen Chshmarityan said today when speaking at parliament.
He said the government will pursue a purposeful policy in some sectors next year to ensure the GDP growth. The draft budget for 2016 approved by the government on October projects a 2.2% economic expansion for next year.
The minister explained that to achieve growth his ministry will show support for SMEs, tourism and IT sectors including in the form of state guarantees and various benefits.
On 2015 nine-month GDP, Chshmarityan said there are both positive and negative trends. A good growth was demonstrated by agriculture that grew by 11.3%; the mining industry surged by 40.5%. In the meantime, food production recorded a decrease of 6.3%; the beverage industry fell by 21.5%, while tobacco products saw an impressive rise of 52.8%. The minister added that economic recession in Armenia's partner countries, particularly, in Russia is affecting the economic situation in the country.
According to the National Statistical Service, the economic activity index in January-September 2015 increased by 3.7% if compared with the same period in 2014. The government’s projection of GDP for 2015 is 4.1%. The inflation is forecast at 4% (± 1.5%). -0-
He said the government will pursue a purposeful policy in some sectors next year to ensure the GDP growth. The draft budget for 2016 approved by the government on October projects a 2.2% economic expansion for next year.
The minister explained that to achieve growth his ministry will show support for SMEs, tourism and IT sectors including in the form of state guarantees and various benefits.
On 2015 nine-month GDP, Chshmarityan said there are both positive and negative trends. A good growth was demonstrated by agriculture that grew by 11.3%; the mining industry surged by 40.5%. In the meantime, food production recorded a decrease of 6.3%; the beverage industry fell by 21.5%, while tobacco products saw an impressive rise of 52.8%. The minister added that economic recession in Armenia's partner countries, particularly, in Russia is affecting the economic situation in the country.
According to the National Statistical Service, the economic activity index in January-September 2015 increased by 3.7% if compared with the same period in 2014. The government’s projection of GDP for 2015 is 4.1%. The inflation is forecast at 4% (± 1.5%). -0-
