Government should ensure 7% economic growth in 2024 - Pashinyan

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Economy

15.02.2024, 17:46

Armenian Prime Minister Nikol Pashinyan urged his government today to work hard to ensure 7% economic growth, projected for 2024.

Government should ensure 7% economic growth in 2024 - Pashinyan

YEREVAN, February 15. /ARKA/. Armenian Prime Minister Nikol Pashinyan urged his government today to work hard to ensure 7% economic growth, projected for 2024.

"We should try to carry out our capital construction projects and ensure high fulfillment, indicators which will exceed the statistical annual average," he said speaking at a meeting convened to discuss macroeconomic, fiscal and budgetary framework of the 2025-2027 expenditure program.

In this context, Pashinyan emphasized the infrastructure renovation program and housing construction program in border villages worth AMD 16 million. The latter, according to him, will give an opportunity to expand economic activity in the provinces.

The Prime Minister also drew attention to the planned gradual introduction of ealth insurance scheme, saying it is expected to attract huge investments in the health sector.

Armenia's government's growth forecast for 2024 is 7%. In 2023 the growth, according to preliminary data, was 9.4%.

The Central Bank's growth forecast for this year is 6.1%.. The WB expects it to grow by 4.7% in 2024 and 4.5% in 2025. IMF forecasts 5% growth in 2024. According to Fitch Ratings' forecast, Armenia's economy will grow by 6% in 2024 and 4.9% in 2025. The UN forecasts are 5.2% and 4.8% respectively.-0-

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