ArmInfo. According to the results of 9 months, Armenia improved its investment indicators in comparison with 2019 and 2020. Minister of Economy of Armenia Vahan Kerobyan stated during a briefing on February 10.
In particular, according to him, growth was registered both in terms of the total inflow of foreign investment, and in terms of net inflow and FDI (foreign direct investment). "This is very important, because we need to increase the capital stock of our country," the minister stressed. In addition, he noted that by the end of 2021, the nominal GDP of Armenia will approach 7 trillion drams, exceeding the indicator of 2019 - 6.5 trillion drams. However, according to the minister, it has not yet been possible to recover in terms of real prices.
At the same time, the minister did not agree with the remark of journalists that such indicators are exclusively related to inflation. In this context, he noted that the growth of nominal GDP was reflected, among other things, by an increase in investment inflows. It should be noted that according to the Statistical Committee, in Armenia, economic activity increased in January-December 2021 by 5.8% per annum, against a 7.5% decline in 2020 and a 7.8% growth in 2019. The growth drivers were the service sector, the trade sector, the construction sector and the industrial sector, while the energy complex and the agricultural sector went into decline.
It should be reminded that according to the World Bank forecast for January 2021-2022, Armenia's GDP growth is expected to slow down from 6.1% to 4.8%. In its November forecast, the IMF also forecast a slowdown in Armenia's GDP growth from 5.5 percent in 2021 to 5.3 percent in 2022. And according to the December forecast of the Central Bank of the Republic of Armenia, Armenia's GDP growth will accelerate from 4.2% in 2021 to 5.3% in 2022. The state budget of the Republic of Armenia for 2021 included a 3.2% GDP growth, and for 2022 - a 7% GDP growth. And according to statistics that is after the actual decline in GDP in 2020 by 7.4%, and the pre-Covid GDP growth in 2019 by 7.6%.
