Armenian premier finds 4.5-percent economic growth logically relevant for 2018
03.11.2017,
14:29
Karen Karapetyan, Armenian prime minister, finds a 4.5-percent economic growth projected in the government budget for 2018 logically relevant.
YEREVAN, November 3. /ARKA/. Karen Karapetyan, Armenian prime minister, finds a 4.5-percent economic growth projected in the government budget for 2018 logically relevant.
He expects that business environment will change and businesses will rally, and this will attract more investments.
“This will allow laying groundwork for future growth in 2019,” he said.
In his opinion, economic indicators already give grounds for optimism. In particular, the year-on-year economic activity index rose 5.1% in Jan-Sept 2017, industrial output grew 11.9%, gross agriculture product shrank 9.9% and construction dropped 6.4%.
Karapetyan said that trade turnover grew 12.5%, services but electricity grew 12.8% and consume price index 0.6%.
Besides, the country generated 6.5% more electric power over the mentioned period of 2017 than in the same period a year before.
The median nominal monthly salary was increased by 2.4% and foreign trade was built up 21.7%. Exports grew 19.1 and imports 23.2%.
The premier said tax revenue and returned VAT grew as well.
«The amount of the provided loans grew 1.8% to AMD 2 trillion 357 billion as loan interest rates went down from 14.4% to 10.7% on loans in drams and from 9.7% to 8.2% on loans in foreign currencies for legal entities and from 19% to 16.4% and from 13.7% to 12.5% respectively for individuals,» he said.
Construction grew 3.1% in September 2017, compared with September 2016 and is expected to continue growing also in 2018.
Karapetyan forecasts a four-percent growth for agriculture and even more, if natural disasters sidestep the country.
«Things in the economy, as a whole, are controllable and promising, the general trend is positive,» he said. «Therefore I am convinced that we are on the right track, since to attract investors it is necessary to create favorable environment and activate domestic investments.»
In the government budget for 2017, GDP growth is projected at 3.2%. In the first half of the year a six-percent economic growth was recorded.
The Armenian finance ministry expects that the country will end 2017 with a higher-than-projected economic growth – 4.3%. ($1 – AMD 483.99). --0----
He expects that business environment will change and businesses will rally, and this will attract more investments.
“This will allow laying groundwork for future growth in 2019,” he said.
In his opinion, economic indicators already give grounds for optimism. In particular, the year-on-year economic activity index rose 5.1% in Jan-Sept 2017, industrial output grew 11.9%, gross agriculture product shrank 9.9% and construction dropped 6.4%.
Karapetyan said that trade turnover grew 12.5%, services but electricity grew 12.8% and consume price index 0.6%.
Besides, the country generated 6.5% more electric power over the mentioned period of 2017 than in the same period a year before.
The median nominal monthly salary was increased by 2.4% and foreign trade was built up 21.7%. Exports grew 19.1 and imports 23.2%.
The premier said tax revenue and returned VAT grew as well.
«The amount of the provided loans grew 1.8% to AMD 2 trillion 357 billion as loan interest rates went down from 14.4% to 10.7% on loans in drams and from 9.7% to 8.2% on loans in foreign currencies for legal entities and from 19% to 16.4% and from 13.7% to 12.5% respectively for individuals,» he said.
Construction grew 3.1% in September 2017, compared with September 2016 and is expected to continue growing also in 2018.
Karapetyan forecasts a four-percent growth for agriculture and even more, if natural disasters sidestep the country.
«Things in the economy, as a whole, are controllable and promising, the general trend is positive,» he said. «Therefore I am convinced that we are on the right track, since to attract investors it is necessary to create favorable environment and activate domestic investments.»
In the government budget for 2017, GDP growth is projected at 3.2%. In the first half of the year a six-percent economic growth was recorded.
The Armenian finance ministry expects that the country will end 2017 with a higher-than-projected economic growth – 4.3%. ($1 – AMD 483.99). --0----
