Saturday, July 15 2017 17:26
Alina Hovhannisyan

Expert: Today it is possible to speak about increase of in Russian investments in Armenia

Expert: Today it is possible to  speak about increase of   in Russian investments in Armenia

ArmInfo.Today, one can state  that the increase of  investments in  Armenia  due to its membership in the EAEU. Such an opinion was  expressed  by the chairman of the "Integration and Development" organization, the coordinator of the Eurasian expert club Ara Safarian, on .July 15, 2014, at the press conference,  dedicated to the results  of the economic developments  in the Eurasian Economic Community  for the first five months of 2017.

He stressed that investments should be expected in developing sectors of Armenia, in particular, food, processing industry and agricultural production. In this regard, he noted the Russian partners’ growing interest to Armenian products since the moment of integration of the state in the EАЕC.

However, according to the expert, Armenia still needs to improve the investment environment, in particular, the investment culture. The main obstacle in this direction, in his opinion, is the low degree of coordination between the state and the private sector.

In his turn, the member of the Eurasian Expert Club Ashot Tavadyan noted a number of other problems in this connection. First, the expert said that virtually all profitable enterprises in Armenia are closed joint-stock companies, which raises obstacles  for investors to assess the benefits of possible investments. At the same time, he noted the inaccessibility of loan funds for conducting effective business. And as the third key problem, A. Tavadyan determined the high level of corruption.

Speaking about further economic trends for Armenia, the expert community expressed positive assessments, noting that the first 5 months of 2017 provide the preconditions for positive expectations, in particular in the context of higher growth rates in 2018.

According to the National Statistical Service of the Republic of Armenia, the net flow of general investments from the Russian Federation from positive 27.7 billion drams in 2015 dropped  to minus - 52 billion drams in 2016. Moreover, FDI from Russia - from positive 36 billion drams to minus 26.3 billion drams.

According to the National Statistical Service of the Republic of Armenia, the net flow of general investments from the Russian Federation from positive 27.7 billion drams in 2015 dropped down  to minus 52 billion drams in 2016. Moreover, FDI from Russia - from positive 36 billion drams to minus 26.3 billion drams.

To note,  the World Bank predicts GDP growth in Armenia in 2017 by 2.7% with the acceleration of the rate in 2018 to 3.1%, in 2019 - up to 3.4%. According to the IMF forecast, Armenia's GDP growth in 2017 will be 2.9%, according to the EDB forecast - 2.9% and the Asian Development Bank - 2.2%. The state budget of Armenia for 2017 laid the GDP growth by 3.2%, but the government voiced a 5% growth. According to the updated forecast of the Central Bank, Armenia's GDP growth in 2017 will be 3.3-4.8%.  

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