ArmInfo. On February 27, Armenian President Serzh Sargsyan held a meeting with those responsible for the development, approval and implementation of the state socio- economic and fiscal policy with a view to discussing and summarizing the socio-economic development of the country for 2017.
Prime Minister Karen Karapetyan, Deputy Prime Minister, Minister of International Economic Integration and Reforms Vache Gabrielyan, Head of the Staff of the President Armen Gevorgyan, Chairman of the Central Bank of the Republic of Armenia Artur Javadyan, and the head of the National Statistical Service of Armenia and heads of the structures responsible for the development and implementation of social and economic policy, as well as other officials of the Presidential Administration. As the head of government Karen Karapetyan pointed out, the figures presented today are preliminary - they will be compared with the final annual indicators published by the National Statistical Service and, accordingly, clarifications were made.
Within the agenda, Deputy Minister, Minister of International Economic Integration and Reforms Vache Gabrielyan, Minister of Economic Development and Investments Suren Karayan and Finance Minister Vardan Aramyan reported on the main indicators and the overall picture of economic growth in Armenia in 2017.
The President stressed the importance of regular analysis of the results of the economic and social spheres for the development of economic policy, its clarification and improvement. The President drew the attention of the meeting to the inclusiveness of economic growth, stressing that the results of economic growth should be accessible to all layers of society and especially for socially vulnerable groups. In this context, Serzh Sargsyan stressed that in the coming years, in parallel with ensuring high rates of economic growth, it is important to consistently work towards creating favorable conditions for the demographic indicators it has established.
According to the head of state, the analysis is undoubtedly based on operational information received from agencies and international partners. "Of course, when the National Statistical Service publishes the final figures, we will certainly make our clarifications." The main goal of the analysis, or, as Mr. Prime Minister likes to say, is to find out the components of economic growth, economic growth, to distinguish them, since it depends on the components of growth, what revenues we will have, and of course, taking into account the revenues and sustainability of these components, their duration, our future programs can be more precise and more realistic," he said.
Serzh Sargsyan expressed hope that within the next few weeks the work on the Strategy of Economic and Social Development of Armenia until 2030 will be completed. "Taking into account also the fact that the government achieved good results in 2017, I do not think that deviations will be great, we are likely to have an economic growth of 7.4-7.7%, which is undoubtedly a good indicator. But we must also take into account that a good economic growth of one year can not affect the broad layers of our society, another two or three years of similar growth, and I think that by this we will be able to create very good bases for the implementation of our demographic programs, "said the head Republic, stressing that the year 2018 the government started with good indicators, however, according to the president, it is still impossible to say that Armenia has reached the limit of its possibilities, until the results of this work became tangible for all layers of the public.
According to National Statistical Service data, economic activity as of the end of 2017 was 7.7%, against the slowdown in 2016 to 0.5% from 3.1% for 2015. The final figures on economic growth of the National Statistics Service promise to be published soon, but in May 2017 in an exclusive interview with ArmInfo the Minister of Finance of Armenia Vardan Aramyan stated that the government of the Republic has much higher ambitions for economic growth than the budgeted figure of 3.2 %.
In September, the Ministry of Finance revised its expectations to 4.3-4.5%, and in December, responding to the question of ArmInfo, the head of the agency noted that, by the results of the year, he expects a growth of 5.5-6%. As of the end of 2017, the Ministry of Finance of Armenia expects economic growth in the range of 6.7- 7.4%, the Ministry of Economic Development expects 7% or more, and the Central Bank says about the final indicator of 6.4%. Meanwhile, Armenia completed 2016 with economic activity of 0.5%, GDP growth was only 0.2%. In the future, 2018, GDP growth is expected at 4.5%.