GDP growth in Artsakh in 2018 is expected at 8%

ArmInfo. At the end of 2018, Artsakh expects GDP growth of 8%. This was stated by the Minister of Finance Grigory Martirosyan in the National Assembly of the Republic of Artsakh, where preliminary discussions began of the draft law "On the state budget of the Republic of Artsakh for 2018".

According to the press service of the legislative body of the republic, the Minister of Finance presented the main financial document for the next year and noted that in 2018 the key directions of socio-economic policy, stemming from the provisions of the program of the President of the Republic of Artsakh for 2017- 2020, will be aimed at implementing programs to ensure stable economic growth in the medium-term perspective, as well as the development of institutions that ensure state construction and defense.

Grigory Martirosyan stressed that it is planned to provide 8% economic growth, a stable price level, and in the state budget for next year, along with social programs, special attention will be paid to housing construction.

Thus, the consolidated state budget of the Republic of Artsakh for the year 2018 in terms of revenues will amount to 97 billion 104 million AMD, and in terms of expenditures 101 billion 404 million AMD, the deficit will make 4 billion 299 million AMD.

According to State Minister Araik Harutyunyan, next year the creation of the foundations for long-term stable economic growth will be a priority for the government. The State Minister stressed that next year the highest share is envisaged in the agricultural sector, the energy sector and the processing industry.  From November 20, discussions on the draft state budget will continue in the standing commissions.

The consolidated budget of the Republic of Artsakh for the first half of 2017 compared to the same period in 2016 increased by 19.9% to 16.1 billion drams.