Saturday, October 12 2019 16:25
Naira Badalian

Pashinyan:  Armenia will close the 2019 with economic growth within  7%, against 4.9% budgeted  

Pashinyan:  Armenia will close the 2019 with economic growth within  7%, against 4.9% budgeted  

ArmInfo. Armenia will close the 2019 year with economic growth within 7%. A similar forecast was made by Prime Minister of Armenia Nikol Pashinyan on October 12 at the "My Step for Aragatsotn region" investment business forum.

As the prime minister pointed out, the 2019 is the first year when  the new government of Armenia bears political responsibility for the  state of the country's economy from the beginning of the year. In  this regard, the head of government shared some of the achievements  of the country's economic life.

So, in his words, Armenia will close the current year with a 7%  growth, which is very important and is a high indicator in the EAEU  and in Europe as a whole. "You have to understand that we had a very  low economic base, and 7% growth is not an indicator that can make us  happy. But the economic ambitions that we have formed and set for  ourselves are real and can become reality," he declared.

Nikol Pashinyan recalled the recent successful placement of Armenian  Eurobonds, which, according to him, was extremely important from the  point of view of increasing the international image of Armenia. As  the head of government pointed out, it is very important that in  September 2019, Armenia announced the release of 10-year Eurobonds in  the amount of $ 500 million in international markets, while the real  demand for the purchase of Armenian sovereign bonds in international  markets exceeded $ 2 billion (amounted to $ 2.8 billion Ed. note) .

The Prime Minister also called an important achievement that  according to the results of the year, Armenia willhave a record  growth indicator of international currency reserves. "In the first  nine months of 2009, the Central Bank of Armenia made purchases of  about $ 433 million, as a result of which, as of December 31, Armenia  will have the highest international reserves. This is also an  important result, indicating the financial stability of Armenia," he  emphasized.

Nikol Pashinyan noted that for the economic development of Armenia, a  partnership between the Armenian government and business is  necessary. According to him, today everyone has equal rights and  opportunities, there is no division into the so-called opposition and  pro-government businessmen. "We consider all entrepreneurs to be our  number one allies. Without this, the economic revolution will not be  possible. Our main task is for every businessman in Armenia to feel  protected," the Prime Minister said.

The head of government emphasized that in the new Armenia there is  not a single case of property redistribution over the past year and a  half. "Sometimes we show excessive restraint in order to prevent the  business from feeling helpless. In no case," the prime minister said,  once again emphasizing the importance of each citizen's individual  effort in developing the economy of the republic.

To recall, the "My Step for Aragatsotn region" investment forum is  kicked off. The forum is taking place in the Armenia Wine factory in  the village of Sasunik. Similar forums were held in Kotayk, Ararat,  Lori, Gegharkunik, Syunik, Tavush and Shirak regions.

It should be noted that according to the results of 2019, the GDP  growth of Armenia in the approved budget is laid at 4.9%.  Nevertheless, the Ministry of Finance recently adjusted its  expectations to 6.3%, and the Central Bank of Armenia forecasts  growth in the range of 6.7-7.2% (an average of 6.9%), compared to the  previous 5.9-7.4% ( an average of 6.6%). Economic growth for 2019,  according to the draft budget for next year, is forecasted  at 4.9%. 

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