ArmInfo.Having preliminary data on economic development for 9 months, 7% economic growth is the minimum level that the Armenian government is able to ensure in 2019. This opinion was expressed on October 22 by the Minister of Economy of the Republic of Armenia Tigran Khachatryan on the sidelines of the event dedicated to the report of the EV Consulting company on the future labor market of Armenia.
Giving an assessment of GDP growth for 2020, he noted that the indicator set in the budget implies an increase in the potential for economic growth in the long term. In this direction, according to the minister, a number of programs are being developed in the field of agriculture, industry, services, including tourism. "The measures are aimed at creating more competitive branches of the economy in terms of increasing productivity, in particular through investment," he stressed.
Khachatryan emphasized that taking into account changes in economic policies in various sectors, at the end of next year, the country will have the opportunity to ensure economic growth above the figure set in the budget.
It should be noted that the World Bank improved its forecast for GDP growth in Armenia for 2019 - 5.5%, with a slowdown in 2020 to 5.1%, and by 2021 the expected growth rate was maintained - 5.2%. The IMF predicts a 6.0% increase in Armenia's GDP in 2019 with a slowdown in 2020 to 4.5%. The Central Bank of Armenia predicts for 2019 GDP growth in Armenia in the range of 6.7-7.2% (against the actual 5.2% in 2018). For the next 2020, the draft basic economic law still has a "modest" figure in 4.9%.