ArmInfo. Armenian Minister of Finance Vardan Aramyan admits the existence of oligopoly in the republic. "Under the conditions of the oligopolistic market, it will be difficult to achieve the desired growth rates," the minister said at a meeting with journalists during the discussion of the medium-term expenditure program for 2018-2020.
According to the medium-term expenditure program of the Republic of Armenia for 2018-2020, the Ministry of Finance of Armenia forecasts GDP growth in 2018 at 4.7%, in 2019 - 5.4%, in 2020 the indicator will reach 5.7%. The nominal volume of GDP in 2018 will be 5.785 billion, in 20196.341 billion, and already in 2020, the figure will reach 6.974 billion GDP growth in the next 3 years, as explained by Vardan Aramyan, will be provided due to an aggressive increase in capital expenditures to GDP: in 2018 they will increase to 3.8% of GDP, 2019, the indicator will be 4.8%, and already in 2019 - 5.5%. The level of the budget deficit will gradually be reduced and in 2018 will decrease from 2.8% of GDP to 2.7%, in 2019 - to 2.4%, and in 2020 - to 2.1%. The GDP deflator in 2018 will be at the level of 103.1, and in 2019 and 2020-m. - 104. At the same time, it is planned to raise tax revenues to the budget by 0.3-0.4 percentage points of GDP annually - in 2018 taxes / GDP will amount to 22.4%, in 2019 - 22.7%, and In 2020 - 23%.
To recall, according to the state budget of Armenia for 2016, the expense item was fixed at the level of 1 trillion 377 billion AMD (expenditure/GDP ratio 25.3%), and profitable - 1 trillion 186.3 billion AMD (income/GDP ratio 21.8%) with a deficit of 197 billion AMD (deficit/GDP ratio 3.5%). In the state budget, the real GDP growth for 2016 was envisaged at a rate of 2.2%, the GDP deflator index - at a rate of 4%, 12- month inflation - at 4% (+ 1.5%), and the state budget deficit - at 3% , 5% of GDP. Nevertheless, by the end of the year, GDP growth remained at the level of 0.2-0.3%, under-collected taxes and exceeded the planned deficit level in the state budget by 2%.