Armenian government forecasts 3.2% growth in 2017

YEREVAN, September 29. /ARKA/. The Armenian government’s projection of economic expansion in 2017 is 3.2%, minister of finance Vardan Aramyan said today, adding that it expects the index-deflator at 1.7%.

‘The projected growth is modest, but it must be viewed in comparison. Particularly, this year, most likely, the growth will be around 2.4%, ‘ Aramyan said. 

According to the minister, the projected growth is to be secured by a 5% rise  in industrial output, a  4% growth  in agriculture, a 2% growth in the services and a 2% rise in the collection of indirect taxes. The minister noted that no growth is expected in the construction sector, largely, due to lack of demand.

Regarding  inflation,  Aramyan said it is forecast at 4% (± 1.5%) . He added that the ministry of finance will be  conducting  a coordinated policy with the Central Bank to ensure macroeconomic policy .

"The main objective is to improve the business environment, for which we need to ensure macroeconomic stability. That will be our main task for 2017 and consequently, as a result of the implementation of all envisaged steps we will be able to achieve the projected targets", said Aramyan.

According to the National Statistical Service, the economic growth in the second quarter of 2016 was 1.5%, compared to 4.5% growth registered in the first quarter. The government’s forecast for 2016 is 2.2%. -0-