Armenian economy to develop in 2016 amid global uncertainty– expert
14.12.2015,
11:46
The next year will be tense in terms of international relations, and this will impact Armenia’s economy, Vazgen Safaryan, the head of the Union of Domestic Commodity Producers, said Friday at a news conference.
YEREVAN, December 14. /ARKA/. The next year will be tense in terms of international relations, and this will impact Armenia’s economy, Vazgen Safaryan, the head of the Union of Domestic Commodity Producers, said Friday at a news conference.
He said Europe’s economy and social area will be under pressure of a huge inflow of migrants form the Middle East, particularly from Syria.
“In such circumstances, copper prices will remain low, and Armenia will have to export it in physical volumes,” the expert said. “Besides, Russia, Armenia’s key partner, will be in limbo amid the war in Syria. All these factors will directly affect Armenia’s economy.”
Safaryan said that 2015 was a difficult year mainly due to outside factors, particularly economic and political developments in Russia, and macroeconomic indicators reflected that.
In his words, export from Armenia to Russia shrank 30% and money transfers dwindled 38% and it means Armenia received by $1 billion less from Russia.
“But despite uncertainly and risks in the world, if developments in 2015 and all mistakes and problems of past years are taken into consideration, 2016 may become a year of opportunities to Armenia,” he said.
In his opinion, to remove adverse factors from Armenia’s economy it is necessary to use the country’s all resources, concentrate all efforts on development of agriculture and industry, give freedom to small and mid-scale businesses and promote exports.
Safaryan also said that Armenian government should enhance effectiveness of its economic relations with Russia by establishing joint agricultural and industrial enterprises.
In the 2016 government budget, GDP growth is projected at 2.2%. ---0---
He said Europe’s economy and social area will be under pressure of a huge inflow of migrants form the Middle East, particularly from Syria.
“In such circumstances, copper prices will remain low, and Armenia will have to export it in physical volumes,” the expert said. “Besides, Russia, Armenia’s key partner, will be in limbo amid the war in Syria. All these factors will directly affect Armenia’s economy.”
Safaryan said that 2015 was a difficult year mainly due to outside factors, particularly economic and political developments in Russia, and macroeconomic indicators reflected that.
In his words, export from Armenia to Russia shrank 30% and money transfers dwindled 38% and it means Armenia received by $1 billion less from Russia.
“But despite uncertainly and risks in the world, if developments in 2015 and all mistakes and problems of past years are taken into consideration, 2016 may become a year of opportunities to Armenia,” he said.
In his opinion, to remove adverse factors from Armenia’s economy it is necessary to use the country’s all resources, concentrate all efforts on development of agriculture and industry, give freedom to small and mid-scale businesses and promote exports.
Safaryan also said that Armenian government should enhance effectiveness of its economic relations with Russia by establishing joint agricultural and industrial enterprises.
In the 2016 government budget, GDP growth is projected at 2.2%. ---0---
