Efforts needed for ensuring 5% economic growth in Armenia – finance minister
22.06.2017,
11:24
Vardan Aramyan, Armenian finance minister, thinks that today Armenia is able to ensure a 3-to-4-percent economic growth, and to have a five-percent GDP growth it is necessary to make efforts, the press office of the finance ministry reports.
YEREVAN, June 22. /ARKA/. Vardan Aramyan, Armenian finance minister, thinks that today Armenia is able to ensure a 3-to-4-percent economic growth, and to have a five-percent GDP growth it is necessary to make efforts, the press office of the finance ministry reports.
In its 2017-2022 program, the government plans to ensure a 5% annual economic growth, and in the government budget for 2017, GDP growth is projected at 3.2% and inflation at 4% (±1.5%).
In its latest forecast, the World Bank expects a 2.7% economic growth in Armenia in 2017. The International Monetary Fund predicts 2.9%, the Eurasian Development Bank 2.9%, the Asian Development bank 2.2%, the United Nations up to 2.7% and Fitch 2.1%. Fitch’s predicts up to 2% and Moody’s expects a 2.2% GDP growth slowdown.
“Clear indicators are presented in the program for certain areas, particularly economic growth and export indicators, and we will try to have them,” Aramyan said. “The program is ambitious and realistic.”
He said that the program has been worked out with taking into account many macroeconomic indicators.
The government says in the program that it is planning to increase the share of export in GDP to 40% from the present 16% and to raise the minimum nominal salary by 25%.
It also intends to increase the share of tax revenue in GDP by 2.5% by improving tax and customs administration. --0---
In its 2017-2022 program, the government plans to ensure a 5% annual economic growth, and in the government budget for 2017, GDP growth is projected at 3.2% and inflation at 4% (±1.5%).
In its latest forecast, the World Bank expects a 2.7% economic growth in Armenia in 2017. The International Monetary Fund predicts 2.9%, the Eurasian Development Bank 2.9%, the Asian Development bank 2.2%, the United Nations up to 2.7% and Fitch 2.1%. Fitch’s predicts up to 2% and Moody’s expects a 2.2% GDP growth slowdown.
“Clear indicators are presented in the program for certain areas, particularly economic growth and export indicators, and we will try to have them,” Aramyan said. “The program is ambitious and realistic.”
He said that the program has been worked out with taking into account many macroeconomic indicators.
The government says in the program that it is planning to increase the share of export in GDP to 40% from the present 16% and to raise the minimum nominal salary by 25%.
It also intends to increase the share of tax revenue in GDP by 2.5% by improving tax and customs administration. --0---
