Expert: in 2017 Armenia`s economy growth to form 3-4%

ArmInfo. Armenia will  end the 2016 with 0,6% indicator as the best, and in 2017 the economic growth in Armenia will form 3-4%, "but those will be real figures", Gagik Margaryan economy expert and the Chairman of Armenia Employers Union stated at a press conference on December 26.

"In real the situation didn't get worse - we simply saw real figures, which  characterized Armenian economy for a long time. That is why our public and our business never felt positive changes in economy within "drawn" 3% growth, the expert mentioned.

According to the expert, official data derived from real due to several reasons. First, because of authorities wanting to win the trust of international entities and to prove that loans allocated do reach the goals those were borrowed for, and the second - for self-positioning. And the new government is intended to be honest with people. "Today our authorities demonstrate indicators conforming to reality, so that in the future the population could feel all the changes in the result of reforms conducted. The real picture will help to make correct estimates further steps, which is important for all the participants of the market," he stated.  Following the expert, today Armenian government formulates a political will, implements steps to struggle against the shadow, calin entrepreneurs and entities to join the efforts in solving these issues. " I am inspired with this will. Nowadawys we are carrying out many reforms, and  we will see the results next year for  sure," he stated.

According to the National Statistics Service of Armenia , in Jan-Oct 2016 the foreign trade turnover of Armenia totaled 1952.3 bln AMD ($4067 mln), with a 6.1% year-over-year growth. Exports increased by 19.8% to 697.8 bln AMD  ($1453.7 mln), and imports decreased by 0.3% to 1254.5 bln AMD ($2613.3 mln).In Jan-Oct 2016, the economic activity growth in Armenia slackened to 0.4% from 3.5% in Jan-Oct 2015. Services and industry remained the driving force of economic activity. In the same period of 2014 the growth of economic activity was much higher-4.2%. According to the data of the Armenian National Statistical Service, in October alone economic activity dropped by 18.7% (down 7.8% versus Oct 2015).  According to the state budget, the GDP growth in Armenia for 2016 is planned at 2,2 %, and for 2017 - 3,2%. EABD expects growth for 2%, Fitch -  up  to 2%. Moody's expects the GDP slowdown in Armenia for 2%. Independent economists thin that from the autumn a long economy recession started , which could even turn into long term economic  stagnation. To reach positive economic effects, Armenia should reach the annual 5% growth and more. At the same time independent experts think that starting with the autumn, an economic recession rises in  the country, and the threat of a long-term economic stagnation.