ArmInfo. The expectations in respect to GDP growth in 2017 at the level of 3,2% could be overcame, and in the case of absence of external shocks there is an option even to exceed those. Already in 2018 Armenia could expect for 4-5% economic growth.
This was stated by Vardan Aramyan, the Minister of Finance, after the Government session on February 23, answering ArmInfo questions. According to Aramyan, the indicators of economic activity in Armenia for January are stating the 6,5% growth. According to the Minister, proceeding from this, the planned indicators may be exceeded, if there will be no negative external shocks.
At the same time, Armenia could not return to the level of GDP fixed during the period before 2008, which, following Aramyan, is preconditioned by global economic cycles. Within the attentive look at those cycles, it could be seen that the years of 2002-2008 were the period of global economy rise, which was the result of US Federal Reserve System expansion. According to the Minister, reviewing the program of middle term costs for upcoming three years, the Government will expect for faster growth. "I don't want to make promises and to voice figures, but I am sure that starting with the next year we could think of 4-5% economic growth, and after that for higher indicators," the Minister mentioned.
To mention, IMF has improved its forecast for GDP growth in Armenia in 2016 to 3.2% with further acceleration in 2017 to 3.4%.
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