ArmInfo.The Armenian economy can grow in 2019 above the projected 6.3%, Finance Minister Atom Janjughazyan says.
The head of the Ministry of Finance recalled that in the law "On the state budget for 2020", the country's financial authorities revised their expectations for growth from the previously recorded figure of 4.9% to 6.3%. According to the Minister, Armenia's economic growth potential is around 5%, and the total growth for the current year may be around 7%. "According to the forecasts of the Ministry of Finance, Armenia will close the year 2019 with economic growth in the range of 6.9-7.1%," Janjughazyan noted.
According to the Statistical Committee of the Republic of Armenia, the growth of economic activity in January-October 2019 accelerated to 7.1% from 6% for 10 months of 2018, while the growth of GDP for 9 months of 2019 was fixed at 7.5%. According to forecasts of the head of the Ministry of Economy, Tigran Khachatryan, the final indicator of economic activity for 2019 will be a little more than 7%, and GDP growth will be even higher. Earlier, Armenian Prime Minister Nikol Pashinyan announced expectations of economic growth up to 7% and higher.
The same high growth is expected by international financial institutions and rating agencies. Thus, the World Bank again improved its forecast for GDP growth in Armenia for 2019 - expecting 6.9%, against the previous 5.5%. Earlier, in the June forecast, the World Bank's expectations for the growth of Armenia's GDP for 2019 were lower - 4.2%. The Central Bank of the Republic of Armenia predicts it in the range of 6.7-7.2%.