Armenia's economy back on track for recovery, chief taxman says

YEREVAN, April 6. /ARKA/. The head of Armenia's State Revenues Committee Edward Hovhannisyan told a press briefing in the parliament today that the country's economy is back on track for recovery.

"Judging by the analytical data, the economy is recovering, backed by the turnover amount and the amount of collected taxes," he said.

Hovhannisyan also noted that in order to assess the economic recovery, it is necessary to follow the statistical information.

Armenia's government's GDP growth projection for 2021 is 3.2%. The inflation is set at 4% (± 1.5%).

Earlier this year the Central Bank of Armenia revised its forecast for economic growth for 2021 downward - from the previous 2% to 1.4%.

The Fitch Ratings predicts that real GDP growth in Armenia will recover to 3.2% in 2021 and to 4% in 2022. The World Bank expects that the Armenian economy will grow by 3.4% in 2021, and by 4.3% in 2022. The IMF predicts GDP growth of 1%. --0--