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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