Arminfo.GDP of Armenia in 2015 will be less than 2014 indicator by 1 bln USD (10% yoy decline).
Gagik Makaryan, Chairman of the Republican Union of Employers of Armenia, gave such a forecast at a press conference on January 15. The economist explained this by drop of export by 4.6% and import by
26%, which is mainly determined by the decline of turnover in Russia at the background of crisis in the region.
Among positive factors in Armenia's economy of 2015 Makaryan mentioned opportunity of diversification of export in such directions as Canada, China, Iraq and Switzerland, financial programs with EU (COSMO, SME assistance program, program on defending human rights) and effective foreign policy. Related to the foreign debt of Armenia, economist noted that it will increase to 5 bln USD in 2017, after
which decrease will start. As of December 1, 2015 Armenia's foreign debt reached 4.1 bln USD, increasing since the beginning of the year by 8%.
Summarizing the results of the year, Makaryan noted that one should not have big expectations related to 2016, however no significant losses will happen as well.