Serzh Sargsyan: Until 2040, per capita GDP in Armenia is increasing from $ 3,500 to $ 15,000

ArmInfo. By 2040, per capita GDP in  Armenia is increasing from $ 3,500 to $ 15,000, considering GDP  growth and the demographic situation. The President of Armenia Serzh  Sargsyan stated during his speech on May 18 in the Parliament.  

According to the President, Armenia should be the most favorable and  safe place for life and self- realization for all Armenians. In the  process of becoming this, every citizen should have his own  participation, forming a strong and just state. In order to achieve  the intended goal, it is also important to develop and implement  economic policies aimed at ensuring stable long-term economic growth.  According to the head of state, the combination of financial and  credit and fiscal policy should create such a dynamic and stable  macroeconomic environment that will provide an opportunity to achieve  both short-term, medium and long-term stable economic growth,  ensuring the targets of 2040. It is necessary that the average annual  rate of economic growth was significantly higher than the average  international economic growth rate, so that the difference in GDP per  capita in Armenia and developed countries is gradually reduced, he  said. In particular, as Sargsyan said, during 1990-2015 Armenia's GDP  from $ 2 billion 257 million reached $ 10 billion 529 million, an  increase of about 4.7 times. During 2016-2040 it is planned to  provide about five percent average annual growth of GDP and reach the  figure of more than $ 57-60 billion, providing growth, approximately  five and a half times.

According to Serzh  Sargsyan ,considering the current economic state,  the country should have active participation in the economy. The  state must stimulate and award the compatible, high export potential  and based on local recourses sectors. "In particular, we reached  significant success on the state-private cooperation in the sectors  of  infrastructures, air communications, however many sectors remain  out of the profitable cooperation of this kind. Therefore, it is  necessary to conduct a clear and hard work in various branches of  economy to enlarge to cooperation and expand the possibilities of  usage considering the international and Armenian experience", he  stated. 

President calls on to continuously improve the business environment  and eliminate obstacles to business, considering also the published  indicators by various international organizations, in particular,  reports on labor. They, according to the head of the republic, make  the Armenian economy comparable with more than 150 economies and  indicate those problems, the solution of which will improve the  attractiveness and competitiveness of the Republic of Armenia. "Our  goal in the next 4-5 years on the Doing Business ranking is to  advance to the top twenty and in the next years to take a stable  place in the first 15 horizontal lines, which is very necessary for  us," Serzh Sargsyan said.