Friday, April 21 2017 18:10
Naira Badalian

Armenian Prime Minister considers recorded macroeconomic indicators satisfactory, but insufficient

Armenian Prime Minister considers recorded macroeconomic indicators satisfactory, but insufficient

ArmInfo. Growth rates for the main macroeconomic indicators for the first quarter of 2017 are satisfactory, but not sufficient. The Prime Minister of Armenia Karen Karapetyan expressed his opinion on his Facebook page.

Commenting on the main macroeconomic indicators characterizing the socio-economic level of the country, Karen Karapetyan noted that in a number of important directions growth was registered. "In particular, the volume of industrial production for the first quarter of 2017 increased by 16.1% compared to the same period of 2016. Such indicators are satisfactory, but insufficient, and in this direction our team still has a huge work to do," wrote the head of the Armenian Government.

To note, according to preliminary data of the National Statistical Service of Armenia, economic activity in Armenia in January-March 2017 compared to January-March 2016 increased by 6.6%. In the structure of economic activity, the decrease continues in the construction sector - by 13.6%, the agricultural sector was in decline by 1.5%. In other areas growth was noted, with the highest in the industrial sector (16.1%) and trade (11.3%), and slightly more modest in services (10%) and energy complex (9.3%).

According to statistical data in January-March 2017, the trade sector holds the absolute leading position with a volume of 489.2 billion AMD (over $ 1 billion). The industrial sector ranked second in terms of volume - 361.8 billion AMD ($ 744.8 million), the third - service sector - 301.9 billion AMD ($ 621.6 million), the fourth - agricultural sector - 69.5 billion AMD ($ 143.1 million), and the fifth - construction sector - 35.8 billion AMD ($ 73.6 million). The volume of electricity generated in January-March 2017 - 2101.8 million kWh, of which only in March - 650.9 million kWh. The industrial production price index increased by 3.4% in January-March 2017, by only 3.4% in March, and by 0.6% in March alone, and by 3.1% compared with March 2016. At the same time, Armenia's foreign trade turnover in January-March 2017 amounted to 605.6 billion AMD ($ 1,246.8 million) with an annual growth by 17.4%. In its structure, the volume of exports has undergone annual growth by 16.5% to 215.2 billion AMD ($ 443.1 million), and imports - an annual growth by 17.9% to 390.4 billion AMD ($ 803.7 million).

To note, the World Bank predicts GDP growth in Armenia in 2017 by 2.7%. The IMF predicts GDP growth in Armenia in 2017 by 2.9%. According to the forecast of the Eurasian Development Bank, the GDP growth of Armenia in 2017 will be 2.9%. Fitch forecasts GDP growth in Armenia in 2017 by 2.1%. The state budget of the Republic of Armenia for 2017 predicts the GDP growth by 3.2%, but the government is aimed at securing higher rates. The Central Bank predicts GDP growth in Armenia in 2017 by 3.2-4.4%.

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