Armenia`s Economy Minister predicts sharp economic growth

ArmInfo. Despite the fact that economic activity in Armenia in January-February 2021 decreased by 6.7% compared to January-February 2020, RA Economy Minister Vahan Kerobyan predicts that the Armenian economy will grow by 7-7. 5% in  March. He said this on April 22 in an interview with journalists.

Referring to the statement that the tourist flow to Armenia will  increase by 319% this year, Kerobyan said that if about 375 thousand  tourists arrived in Armenia by March 2020, the Ministry plans to  receive 1 million 200 thousand people in Armenia this year. "If you  divide 1 million 200 by 375 thousand, you will get the figure I  announced," he explained.

According to statistics, in January-February, the largest annual  decline was in the service sector and the trade sector - 12.5% and  11.3%, followed by industry-7.9% and the energy complex-5.8%, and  only the construction sector was able to maintain growth, but with a  strong slowdown to 1%. No data has been published for the  agricultural sector. A year earlier (January-February 2020 to  January-February 2019), all sectors showed growth: the energy  complex-23.1%, the industrial sector-15.3%, the service sector-11.2%,  the trade sector-6.3%, the construction sector-5.8%.