Armenian government expects GDP to grow by 6.9% in 2014
04.07.2013,
15:56
Armenia’s economy in 2014 is expected to expand by 6.9%, according to finance minister David Sargsyan, who unveiled today the government’s medium-term public spending designed for 2014- 2016. He said also that the government expects the GDP to grow by 10 percent in 2015 and 11 percent in 2016.
YEREVAN, July 4. /ARKA/. Armenia’s economy in 2014 is expected to expand by 6.9%, according to finance minister David Sargsyan, who unveiled today the government’s medium-term public spending designed for 2014- 2016. He said also that the government expects the GDP to grow by 10 percent in 2015 and 11 percent in 2016.
The minister noted that the projected GDP growth for 2014 suggests that the government will have to collect 1.146 trillion drams in revenue, which will be 23.63% of the GDP, and spend 1.258 trillion drams or 25.93% of the GDP.
Earlier a Central Bank of Armenia Board member Arthur Stepanyan said that the GDP growth in 2014 may decline to 4.3% due to higher prices of natural gas and electricity. The EBRD and the IMF project that the GDP growth will slash to about 4% in 2014.
Armenia's GDP in 2012 was officially reported to grow by 7.2%. The government’s GDP projection for this year is 6.2%. President Serzh Sargsyan said earlier the government should ensure a 7% growth. -0-
