Friday, September 30 2022 11:47
Naira Badalian

The share of exports, imports and transfers in Armenia`s GDP in 2023  will decrease compared to 2022:  Macroeconomic project of state  budget

The share of exports, imports and transfers in Armenia`s GDP in 2023  will decrease compared to 2022:  Macroeconomic project of state  budget

ArmInfo.The share of exports in Armenia's GDP in 2023, compared to 2022, will decrease. The financial authorities of the republic also projected a decline in the  imports and remittances. This is stated in the budget report of the  next year's state budget project.

Thus, according to the document, the nominal GDP of Armenia in the  context of 7% economic growth (according to the results of this year,  an 11% increase is expected) will grow to 9,317.9 billion drams from  8,293.7 billion drams expected by the end of 2022 and actual 6,983.0  billion drams for 2021. The settlement rate of the Armenian was fixed  at the level of: 404.74 AMD|1USD, 405.35 AMD1EUR, 467.84AMD|1GBP,  6.72AMD|1RUB.

The growth of the deflator will be 5%, against the expected 7% at the  end of this year and actual 6.9% for 2021. Annual inflation will be  5.2%, against 7.4% expected in 2022 and actual 3.7% in 2021. Average  inflation will reach 5.6%, against 7% expected for 2022 and 1.2% for  2021.  Real GDP growth in the republic will be ensured mainly by an  increase in value added in the main sectors of the economy: in  industry by 5.1% (by the end of this year - by 5%, with actual 3.5%  in 2021), in agriculture - by 3% (by the end of 2022 - by 2.2% and  negative 0.6% in 2021 1), in construction - by 9.6% (by 16.9%,  expected by the end of this year and 3.1% - for 2021), in the service  sector - by 8.2 % (versus 15.6% expected for 2022 and actual 7.9% at  the end of 2021), in terms of net taxes, the increase will be 7.2%,  instead of expected 6.2% by the end of this year and 7.4% - for 2021.   The real growth of expenditure components of GDP will be as follows:  final consumption will grow by 4% (against 7.8% expected by the end  of this year and actual 4.4% for 2021), in terms of exports, the  increase will be 9.3%, instead of 33 .9% for 2022 and 16.6% for 2021,  a 5.8% increase is expected for imports, against 21.4% for the  current year and 12.9% last year.  The current account to GDP will  record a decline of 6.1%, against  negative4.5% expected at the end  of this year and 3.8% for 2021. The balance of goods and services  from GDP next year is projected at -6.6%, against -6.7% expected for  this year, and -8.5% for 2021. The share of exports in the country's  GDP will decrease from 40.5%, expected at the end of this year, to  39.9% (35.1% in 2021). Imports in relation to GDP will also record a  decline - from 47.2%, expected at the end of this year, up to 46.5%  (actual 43.6% last year). The share of remittances in GDP will  decrease by 0.9% p.p. - from 7.4% expected at the end of this year to  6.6% (9.3% for 2021). 

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