Monday, October 23 2017 11:41
Naira Badalian

GDP per capita in Armenia will grow by $ 286 by the end of 2018

GDP per capita in Armenia will grow by $ 286 by the end of 2018

ArmInfo. GDP per capita in  Armenia by the end of 2018 from the expected current year's $ 3,699  will reach $ 3,985, answering the question of ArmInfo, Deputy Finance  Minister of Armenia Armen Hayrapetyan said on October 22 during a  seminar organized with the assistance of the German Society for  International Cooperation (GIZ).

According to the deputy minister, $ 286 per capita growth is planned  to be provided within the framework of the planned growth in the  budget for 2018, namely, the projected GDP growth of 4.5%.

Earlier, Armenian Minister of Finance Vardan Aramyan stated that in  2020 the GDP per capita will be $ 4700 instead of the current $ 3500.  At the same time, as the head of the Armenian Ministry of Finance  explained, the calculation was made based on the preservation of the  exchange rate of 480 drams for one US dollar.

It should be noted that on May 18, Armenian President Serzh Sargsyan,  referring to the deputies of the new convocation parliament, said  that by the year 2040 the GDP per capita in the republic is planned  to be increased to about $ 15,000, considering both GDP growth rates  and the planned improvement of the demographic situation. It is  necessary that the average annual rate of economic growth is  significantly higher than the average international economic growth  rate, so that the difference in GDP per capita in Armenia and  developed countries gradually decreases, he said. In particular, as  Sargsyan said, during 1990- 2015 Armenia's GDP from $ 2 billion 257  million reached $ 10 billion 529 million, an increase of about 4.7  times. During 2016-2040 it is planned to provide about five percent  average annual growth of GDP and reach the figure of more than $  57-60 billion, providing growth for  approximately five and a half  times.


News
Proceeds of Armenia`s trade sector $5.2bln in Jan-Oct 2021Proceeds of Armenia`s trade sector $5.2bln in Jan-Oct 2021
4.1% increase in proceeds of Armenia`s communication sector in  Jan-Oct 2021 4.1% increase in proceeds of Armenia`s communication sector in  Jan-Oct 2021 
Double-digit growth in alcoholic beverages output in ArmeniaDouble-digit growth in alcoholic beverages output in Armenia
Revenues of Armenia`s textile industry more than doubled in 10 monthsRevenues of Armenia`s textile industry more than doubled in 10 months
Electricity generation in Armenia decreased by 3.1% in 10 monthsElectricity generation in Armenia decreased by 3.1% in 10 months
Armenia`s metallurgy industry accelerates growthArmenia`s metallurgy industry accelerates growth
HSBC Armenia Named Best Cash Management Bank by 2021 Euromoney Cash Management SurveyHSBC Armenia Named Best Cash Management Bank by 2021 Euromoney Cash Management Survey
Production volumes of aluminum foil in Armenia decreased by 5% per  annum in 10 monthsProduction volumes of aluminum foil in Armenia decreased by 5% per  annum in 10 months
Informed means protected: IDBankInformed means protected: IDBank
Industrial production growth accelerated due to revitalization of  manufacturing industryIndustrial production growth accelerated due to revitalization of  manufacturing industry
Armenia is negotiating for export of Armenia is negotiating for export of "Sputnik Light" vaccine to  countries of Middle East and Africa
Russia and China are Armenia`s leading trade partners in both export  and importRussia and China are Armenia`s leading trade partners in both export  and import
Growth of Armenia`s foreign trade turnover significantly exceeds  pre-COVID ratesGrowth of Armenia`s foreign trade turnover significantly exceeds  pre-COVID rates
Regular container trains start to run from China to GeorgiaRegular container trains start to run from China to Georgia
MP: Armenian authorities directed expensive borrowed funds to curb  devaluation of dram MP: Armenian authorities directed expensive borrowed funds to curb  devaluation of dram 
Opposition MP: The optimism underlying the draft state budget of  Armenia for 2022 is a purely political trickOpposition MP: The optimism underlying the draft state budget of  Armenia for 2022 is a purely political trick
Armenia`s economic activity recovers very slowlyArmenia`s economic activity recovers very slowly
Artur Khachatryan: Armenia faces an infrastructure trapArtur Khachatryan: Armenia faces an infrastructure trap
9.6% annual inflation in Armenia in Nov. 20219.6% annual inflation in Armenia in Nov. 2021
Belarus is interested in strengthening cooperation with Armenia in  field of high technologiesBelarus is interested in strengthening cooperation with Armenia in  field of high technologies
GITC, IBM to implement artificial intelligence education programme GITC, IBM to implement artificial intelligence education programme 
Japanese government to provide grants for implementation of 2  programs in Armavir and Lori regions  Japanese government to provide grants for implementation of 2  programs in Armavir and Lori regions  
Armenia`s developers to submit documents online soonArmenia`s developers to submit documents online soon
Armenia`s vice-premier calls for larger share of national currencies  in EAEU tradeArmenia`s vice-premier calls for larger share of national currencies  in EAEU trade
EDB to intensify work in ArmeniaEDB to intensify work in Armenia
Ardshinbank named the Best Bank of the Year by The Banker international magazineArdshinbank named the Best Bank of the Year by The Banker international magazine
EDB analysts have no assessment of economic benefits that Armenia  will receive from unblocking of regional transport corridorsEDB analysts have no assessment of economic benefits that Armenia  will receive from unblocking of regional transport corridors
Greenhouse for growing roses to be built in Aragatsotn region of  ArmeniaGreenhouse for growing roses to be built in Aragatsotn region of  Armenia
Gnel Sanosyan: Unfortunately, there have been cases of revealing  design and construction flaws during implementation of subvention  programsGnel Sanosyan: Unfortunately, there have been cases of revealing  design and construction flaws during implementation of subvention  programs
Armenian entrepreneurs appealed to PM to extend embargo on import of  Turkish goods Armenian entrepreneurs appealed to PM to extend embargo on import of  Turkish goods 
EDB Analyst: Armenia`s public debt level will remain above  pre-pandemic level until 2026EDB Analyst: Armenia`s public debt level will remain above  pre-pandemic level until 2026
EDB ready to provide loan for construction of Meridian highway of  Europe-Western China transport corridorEDB ready to provide loan for construction of Meridian highway of  Europe-Western China transport corridor
IFC ready to participate in reforms in Armenia IFC ready to participate in reforms in Armenia 
42% year-on-year growth in net private money transfers to Armenia in  Jan-Oct 202142% year-on-year growth in net private money transfers to Armenia in  Jan-Oct 2021
Armenia Securities Exchange  introduced corporate bond exchange  indices for the first time in regionArmenia Securities Exchange  introduced corporate bond exchange  indices for the first time in region
6.3% rise in real estate prices in Armenia`s capital this Oct6.3% rise in real estate prices in Armenia`s capital this Oct
Central Bank of Armenia joins Sustainable Banking and Financial  NetworkCentral Bank of Armenia joins Sustainable Banking and Financial  Network
EDB formulates idea of  Eurasian transport frameworkEDB formulates idea of  Eurasian transport framework
Tigran Balayan presented Armenia`s investment opportunities to  representatives of Dutch business sectorTigran Balayan presented Armenia`s investment opportunities to  representatives of Dutch business sector
Global businesses set to battle for talent as hiring plans fuel growth ambitionsGlobal businesses set to battle for talent as hiring plans fuel growth ambitions
Armenia`s gross international reserves increased by 38.2% per annum  by November 2021Armenia`s gross international reserves increased by 38.2% per annum  by November 2021
Vahan Kerobyan will take part in Second Eurasian Congress in MoscowVahan Kerobyan will take part in Second Eurasian Congress in Moscow
Statistics: Armenia`s GDP increased by 11.1% per annum in 9 months of  2021Statistics: Armenia`s GDP increased by 11.1% per annum in 9 months of  2021
New power plant of 254 MWe launched in YerevanNew power plant of 254 MWe launched in Yerevan
As of November 20, 2021, tax collection in Armenia exceeded  pre-crisis index of 2019 by 4.5%As of November 20, 2021, tax collection in Armenia exceeded  pre-crisis index of 2019 by 4.5%
Association of Restaurateurs reacted negatively to new decision of RA  Health Ministry Association of Restaurateurs reacted negatively to new decision of RA  Health Ministry 
ANIF, Masdar company discuss Ayg-1 project ANIF, Masdar company discuss Ayg-1 project 
Unpredictable pandemic situation, steadily high inflation remain major risks to scenario of Armenia`s  economic development - EDBUnpredictable pandemic situation, steadily high inflation remain major risks to scenario of Armenia`s  economic development - EDB
US$30m OPEC Fund loan to Ameriabank to promote sustainable energy and support small businesses in ArmeniaUS$30m OPEC Fund loan to Ameriabank to promote sustainable energy and support small businesses in Armenia
One Success Story: Trimming the SpiritsOne Success Story: Trimming the Spirits
EDB projects 2.9% growth in aggregate GDP of Bank`s member states in  2022EDB projects 2.9% growth in aggregate GDP of Bank`s member states in  2022
Representatives of Trade Mission of RF and EFSD discuss financing of  investment projects in Armenia and support for Russian exportersRepresentatives of Trade Mission of RF and EFSD discuss financing of  investment projects in Armenia and support for Russian exporters
4.3% year-on-year increase in economic activity in Armenia in  Jan-Oct, 20214.3% year-on-year increase in economic activity in Armenia in  Jan-Oct, 2021
New operator of Meghri FEZ plans to build a food packaging plantNew operator of Meghri FEZ plans to build a food packaging plant
Government subsidies to Syunik region reached 1.1 billion drams Government subsidies to Syunik region reached 1.1 billion drams 
Armenian authorities consider building three more bypass roads in  Syunik regionArmenian authorities consider building three more bypass roads in  Syunik region
Armenian government approves signing of Agreement on navigation seals  in EAEUArmenian government approves signing of Agreement on navigation seals  in EAEU
Contract for Kaps reservoir construction put out to tenderContract for Kaps reservoir construction put out to tender
VPOS number steadily increasing in Armenia  VPOS number steadily increasing in Armenia  
Non-cash plastic transactions continue to gain momentum; 30%  threshold in total volume has already been passedNon-cash plastic transactions continue to gain momentum; 30%  threshold in total volume has already been passed
Read more


Exchange rates
07.12.2021
RUB6.62-0.04
USD492.411.38
EUR555.140.37
GBP652.791.73
CAD387.574.04
JPY43.32-0.05
CNY77.260.18
CHF533.200.80