Armenian finance ministry: 2016 economic growth outlook not to be revised
08.12.2015,
15:39
Pavel Safaryan, the deputy finance minister, presenting Tuesday the draft budget for 2016 to members of the Armenian National Assembly, said the 2016 economic growth outlook for Armenia will not be revised.
YEREVAN, December 8. /ARKA/. Pavel Safaryan, the deputy finance minister, presenting Tuesday the draft budget for 2016 to members of the Armenian National Assembly, said the 2016 economic growth outlook for Armenia will not be revised.
He stressed that the government doesn't intend to review the 2.2% economic growth projected in the draft budget, since considers it the most realistic.
«We would like to project a higher economic growth in the budget, for example at 12%, which would allow higher revenue and social spending, but the instruments the government possesses for analysing macroeconomic indicators doesn't allow us to project a higher economic growth,» Safaryan said.
In his words, a higher outlook is risky regardless of fluctuations in oil prices.
The deputy minister said the government is ready to work in all the directions which will let it increase the economic growth outlook, but it see no such prospects at the moment.
“Maybe the 2016 annual growth will be a little higher than 2.2%, but a far higher economic growth is very unlikely,» Safaryan said.
According to the National Statistical Service of Armenia, a 3.3% economic growth was recorded in the country in the first three quarters of this year.
Earlier, the central bank projected 3.2 to 3.9 percent GDP growth.
In the government budget for 2015, GDP growth is projected at 4.1% and inflation at 4% (±1.5%). --0--
He stressed that the government doesn't intend to review the 2.2% economic growth projected in the draft budget, since considers it the most realistic.
«We would like to project a higher economic growth in the budget, for example at 12%, which would allow higher revenue and social spending, but the instruments the government possesses for analysing macroeconomic indicators doesn't allow us to project a higher economic growth,» Safaryan said.
In his words, a higher outlook is risky regardless of fluctuations in oil prices.
The deputy minister said the government is ready to work in all the directions which will let it increase the economic growth outlook, but it see no such prospects at the moment.
“Maybe the 2016 annual growth will be a little higher than 2.2%, but a far higher economic growth is very unlikely,» Safaryan said.
According to the National Statistical Service of Armenia, a 3.3% economic growth was recorded in the country in the first three quarters of this year.
Earlier, the central bank projected 3.2 to 3.9 percent GDP growth.
In the government budget for 2015, GDP growth is projected at 4.1% and inflation at 4% (±1.5%). --0--
