Armenian President discusses macroeconomic indicators with the Government

ArmInfo. President Serzh Sargsyan  on November 25 conducted a meeting on macroeconomic indicators and 2017 state budget programmed indicators on As ArmInfo was informed at the Presidential press office, during the meeting Vardan Aramyan, the

Minister of Finance, presented the macroeconomic indicators for the year of 2016, state budget flows, including budget incomes and expenditures, derivations from planned indicators, justifications of those, as well as suggestions voiced during the draft discussions at the Parliament.

The meeting was attended by Prime Minister Karen karapetyan, Deputy Prime Minister Vache Gabrielyan, president Staff Head Armen Gevorkyan, Central Bank Head Arthur Djavadyan, Fnance Minister Vardan Aramyan, First Deputy Minister of Finacne Atom Djandjoughazyan and State Revenues Committee Deputy Head Vakhtang Mirumyan.

To note, Prime Minister has stated at Parliamentary hearings that the  economic growth in Armenia in year- end 2017 is  forecasted 3.2%, amid deflator index 1.7%. The Minister noted that  the growth is moderate but everything should be considered in  comparison, particularly, this year most likely economic growth will  be around 2.4%. Economy growth will be ensured due to a number of  fields, particularly 5% growth is expected in industrial field, 4%-in  agriculture, no growth is expected in construction sector in 2017 and around 2% growth is expected in services.

To note, according to the data of the National Statistical Service of  Armenia economic growth in Armenia in Q2 2016 totaled 1.5% compared  to 4.5% registered in the first three months of the year. According  to Armenia's state budget for 2016 expenditures total 1 trillion 377  billion drams (expenditures/GDP correlation 25.3%), and revenues-1  trillion 186.3 billion drams (revenue/GDP correlation 21.8%) amid 197 bln drams deficit (deficit/GDP correlation 3.5%). Inflation in  Armenia in 2016 is planned at the level of 4% (+1.5%) and GDP  growth-2.2%.