Thursday, September 16 2021 17:48
Alina Hovhannisyan

Economy Minister considers Central Bank`s updated economic forecasts  as pessimistic

Economy Minister considers Central Bank`s updated economic forecasts  as pessimistic

ArmInfo. A day earlier, the Central Bank of Armenia improved its forecast for the country's economic growth from 4.6% to 5.4%. However, according to the Minister  of Economy of Armenia Vahan Kerobyan, such an assessment of the  Regulator is rather pessimistic. He stated this during a briefing on  September 16.

In this regard, the Minister recalled the April forecast of the IMF  with the expected growth of the Armenian economy by 1%, which was  increased to 6.5%. "Of course, we can understand our partners, there  were many uncertainties, including taking into account the military  situation, the internal political one. 

Therefore, as a rule, they choose the most pessimistic forecast.  Let's see what indicator we get, it depends on many factors. But I  remain with my opinion - from the point of view of the nominal value,  the GDP will demonstrate growth in the range of 15-20%>,  the  minister noted.

Having drawn attention to the rather large deflator, which, according  to him, will affect the decline, nevertheless, he assured: "I think  we will be close to double-digit indicators for real GDP growth." 

It should be reminded that the Central Bank of Armenia raised the  forecast of economic growth in Armenia for 2021 to 5.4% from the  previously expected 4.6%. According to the forecast of the World Bank  (WB), updated in June, GDP growth in Armenia in 2021 will be 3.4%. In  its May report, the IMF expected GDP growth by 1% in Armenia for  2021, but today it improved its forecast to 6.5% .