Wednesday, November 15 2017 13:57
Alexandr Avanesov

The Central Bank of Armenia forecasts involvement of large investments in private sector in 2018

The Central Bank of Armenia forecasts involvement  of large  investments in private sector in 2018

ArmInfo. The Armenian  Government intends to continue the policy of structural reforms in  2018, ensuring a relatively high growth rate of the economy. This was  announced on November 15 by the Chairman of the Central Bank Arthur  Javadyan from the rostrum of the National Assembly of Armenia,  presenting the Central Bank's conclusion on the draft law "On the  State Budget for 2018".

According to Arthur Javadyan, next year it is forecasted to provide  real economic growth of 4.5%, which will be largely promoted by the  growth of industry and services. In 2018, the growth of Armenia's GDP  will largely depend on both external developments, in particular,  restoring Russia's GDP growth rates and maintaining high copper  prices in the world market, as well as internal factors conditioned  by the continuation of the reform policy and the implementation of  the expansionary monetary and credit policy. Speech, including, goes  the continuation of the policy of lowering interest rates. It is  noteworthy that the policy of improving the investment environment in  Armenia in 2018 will be accompanied by assistance from the state to  export- oriented industries. The Central Bank forecasts the growth of  investments next year from both private investors and the state.  Moreover, the Central Bank forecasts large volumes of investments  from the private sector. The Central Bank also considers it important  to resolve the issue of ensuring a high level of investment in the  country's GDP.

Arthur Javadyan noted that in 2018 the Government budget deficit is  also forecasted to decrease from 3.6% in GDP in 2017 to 2.7% in 2018,  which is an important condition for the stabilization of public debt,  and its gradual reduction. The Central Bank considers it very  important to improve the structure of public debt, in particular, by  replacing the external debt with domestic debt. At the same time, the  Central Bank attaches importance to the introduction of mechanisms to  manage domestic debt, in particular, by expanding the instruments of  domestic debt.

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