Wednesday, February 14 2018 14:59
Naira Badalian

Gagik Makaryan: If the current rates of economic growth continue, Armenia`s GDP by the end of 2022 will be about $ 15-16 billion

Gagik Makaryan: If the current rates of economic growth continue, Armenia`s GDP by the end of 2022 will be about $ 15-16 billion

ArmInfo. At current economic growth rates, Armenia's GDP will be about $ 15-16 billion by the end of 2022. At the same time, exports from the current $ 2.224 billion will reach $ 6-7 billion, and GDP per capita will grow by 1.5 times. This was stated by the Chairman of the Union of Employers of Armenia Gagik Makaryan.

According to Makaryan, 2017th year was quite successful in terms of Armenia's economic development - the foundations for further growth were laid. In particular, the past year was marked by the active growth of the industrial sector. The sphere of production and export of building materials, confectionery, knitwear and apparel, and agriculture was especially distinguished. In addition, the export of alcoholic beverages to the Russian Federation was quite intensive. If previously only the cognac production had a great export potential, then wine and fruit alcoholic beverages are also in great demand on the Russian market. In general, foreign trade increased to $ 6.5 billion, while exports grew by 25.2% to $ 2.242 billion, and imports by 27.8% to $ 4.182 billion. "If earlier we criticized the authorities' that exports amounted to a third or one quarter of all imports, today we reach 54%, "Makaryan said. Thus, according to the head of the Union, in fact, you can trust the statistical data, which confirm the economic activity at the level of 7.7% for Jan-Dec 2017.

At the same time, the head of the Union does not see any significant progress in the regulation of social tasks. The poverty level still holds at 29.4%, of which 1.9% is extremely poor. "This means that, according to this indicator, Armenia is in the worst position in the region," he noted. According to Makaryan, the dynamics towards improvement of the situation is noticeable provided that the growth rates fixed in the past year are observed. 

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