Armenian economy minister calls 5% economic growth projected in 2020 government budget conservative
22.10.2019,
14:42
Armenian Economy Minister Tigran Khachatryan called the 5% economic growth projected in the 2020 government budget minimal and conservative. He said Monday that the projected indicator is based on the necessity to build up significantly the country's economic growth capacity for a long period of time.
YEREVAN, October 22. /ARKA/. Armenian Economy Minister Tigran Khachatryan called the 5% economic growth projected in the 2020 government budget minimal and conservative. He said Monday that the projected indicator is based on the necessity to build up significantly the country's economic growth capacity for a long period of time.
In his words, the government is working out appropriate programs in industry, agriculture and tourism, which are aimed at formation of more productive and competitive segments of the economy. And this capacity can be built up also by investments, which will allow ensuring economic growth to the country.
"If nothing happens, then the projected five-percent growth will be a minimal and conservative forecast, but we think that the ongoing changes, also in political area, will allow us to record higher indicators," Khachatryan said.
He said that economic growth is expected to be recorded at 7% this year. "The end of year is not so far, and growth for nine months are already gauged," the economy minister said. "Taking this into account, we think this will be the minimum indicator will be able to record."
Earlier, Tigran Khachatryan said in an interview with ARKA News Agency that economic growth will reach 7% instead of the projected 4.9%. The Central Bank of Armenia predicts a 6.6% growth.
In its latest report, the IMF has improved its outlook for Armenia's growth for 2019 to 6%, saying that it would drop to 4.8% in 2020. Moody's says economic growth may stand at 5.5 to 6% in the next few years. The European Bank for Reconstruction and Development says economic growth may reach 6% this year.
In the government budget for 2019, economic growth is projected at 4.9% and inflation at 2.7%. -0---
In his words, the government is working out appropriate programs in industry, agriculture and tourism, which are aimed at formation of more productive and competitive segments of the economy. And this capacity can be built up also by investments, which will allow ensuring economic growth to the country.
"If nothing happens, then the projected five-percent growth will be a minimal and conservative forecast, but we think that the ongoing changes, also in political area, will allow us to record higher indicators," Khachatryan said.
He said that economic growth is expected to be recorded at 7% this year. "The end of year is not so far, and growth for nine months are already gauged," the economy minister said. "Taking this into account, we think this will be the minimum indicator will be able to record."
Earlier, Tigran Khachatryan said in an interview with ARKA News Agency that economic growth will reach 7% instead of the projected 4.9%. The Central Bank of Armenia predicts a 6.6% growth.
In its latest report, the IMF has improved its outlook for Armenia's growth for 2019 to 6%, saying that it would drop to 4.8% in 2020. Moody's says economic growth may stand at 5.5 to 6% in the next few years. The European Bank for Reconstruction and Development says economic growth may reach 6% this year.
In the government budget for 2019, economic growth is projected at 4.9% and inflation at 2.7%. -0---
