ArmInfo. Armenia will end 2019 with economic growth of at least 7.5%. Minister of Economy of the Republic of Armenia Tigran Khachatryan made a similar statement on January 14 during at a press conference on the results of 2019.
<Despite the fact that the y-o-y totals of GDP have not yet been summed up, we can already say that at least we will be able to ensure 7.5% economic growth. This is an important achievement in one and a half years of work>, he said.
In general, the minister assessed the past year from a positive point of view, noting in this vein a number of economic achievements. He noted that thanks to the foundations laid down in 2019, the new 2020 also expected to be good in terms of economic results.
Referring to official statistics, Tigran Khachatryan said that according to the results of 11 months, Armenia's economic growth was fixed at 7.5%, to ensure which the industrial sector has priority (growth by 9.3%), the service sector (about 15%) , domestic trade (9.2%), construction (4.5%) and export (9%). In addition, the minister shared the situation on the labor market of Armenia. So, according to him, in January - September 2019 the number of people employed in the private sector of the Republic of Armenia increased by 40 thousand jobs, of which 5.3 thousand were in the manufacturing industry, 12.4 thousand - retail and wholesale, 4.3 thousand - catering and accommodation, 2.3 thousand - communications, 2.1 thousand - IT sector, 2.7 thousand - other services, etc.
It should be noted that according to the World Bank, in 2019, the economic growth in Armenia will be 6.9%. The IMF forecasts Armenia's GDP growth in 2019 by 4.6% with a slowdown in 2020 to 4.5%. The Central Bank of the Republic of Armenia forecasts it in the range of 6.7-7.2%. For 2020, the Central Bank and the government issued a forecast similar to the IMF growth.