Economic growth in Armenia may exceed 6% in 2017 - Serzh Sargsyan
22.12.2017,
11:14
Serzh Sargsyan, Armenian president, receiving Thursday business community representatives ahead of New Year and Christmas holidays, said the country’s economic growth may exceed 6% in 2017, the presidential office reports.
YEREVAN, December 22. /ARKA/. Serzh Sargsyan, Armenian president, receiving Thursday business community representatives ahead of New Year and Christmas holidays, said the country’s economic growth may exceed 6% in 2017, the presidential office reports.
“Thank God, the coefficient of economic activity is sufficiently high. Over the past 11 months, we have had an unprecedented export index equivalent of 2 billion U.S. dollars, which makes 20 percent of GDP.
We have never had such a high index before,” he said.
“Our trade turnover has overrun the threshold of USD 6 billion over the past 11 months, I mean foreign trade, but what matters most is that structural changes have taken place: in 2012-2013, we had about 6 billion dollar-worth foreign trade turnover, with the index of ready-made food exports standing at 12-13%, while it is 25% now. This is a very good and important indicator. It is obvious that such indicators have a positive impact on financial and macroeconomic stability.”
Sargsyan is also quoted by his press office as saying that for the first time over many years, the Armenian national currency has not been subject to any pressure; on the contrary, it is attempting to improve its position.
“Everything is interconnected, and I think that the main role in this chain is yours,” he said. “Therefore, I urge you to continue working at the same or higher pace, especially considering that the new Constitution will become effective in early 2018. But I expect you to be an important part of our society so that you, too, could improve your work in many ways.”
In the government budget for 2017, GDP growth is projected at 3.2%. Economic growth for the first half of this year is recorded at 6%.
The finance ministry says the 2017 economic growth will exceed the projected indicator and reach 4.3%. --0---
“Thank God, the coefficient of economic activity is sufficiently high. Over the past 11 months, we have had an unprecedented export index equivalent of 2 billion U.S. dollars, which makes 20 percent of GDP.
We have never had such a high index before,” he said.
“Our trade turnover has overrun the threshold of USD 6 billion over the past 11 months, I mean foreign trade, but what matters most is that structural changes have taken place: in 2012-2013, we had about 6 billion dollar-worth foreign trade turnover, with the index of ready-made food exports standing at 12-13%, while it is 25% now. This is a very good and important indicator. It is obvious that such indicators have a positive impact on financial and macroeconomic stability.”
Sargsyan is also quoted by his press office as saying that for the first time over many years, the Armenian national currency has not been subject to any pressure; on the contrary, it is attempting to improve its position.
“Everything is interconnected, and I think that the main role in this chain is yours,” he said. “Therefore, I urge you to continue working at the same or higher pace, especially considering that the new Constitution will become effective in early 2018. But I expect you to be an important part of our society so that you, too, could improve your work in many ways.”
In the government budget for 2017, GDP growth is projected at 3.2%. Economic growth for the first half of this year is recorded at 6%.
The finance ministry says the 2017 economic growth will exceed the projected indicator and reach 4.3%. --0---
