Minister: Armenia`s planned 5.6% GDP growth for 2025 is a very high  figure

ArmInfo.. The planned 5.6% GDP growth for 2025, as stated by RA Finance Minister Vahe  Hovhannisyan  to reporters  on October 28th, is a very high figure,.  He recalled that according to the RA government program for 2021-2026, they plan to achieve up to 7% economic growth annually  under favorable conditions. However, the proposed figure for next year is very ambitious. The minister noted that GDP growth rates much higher than 7% were ensured for 2022-2023. As a result, an average economic growth rate of 7% is maintained over the years.

The Minister noted that one of the key tasks for the Armenian  government is to establish a conducive environment for entrepreneurs  to conduct their activities freely and attract investments to  generate new employment opportunities.  Hovhannisyan noted that by  the end of 2024, the country's public debt is projected to reach  49.8%, and by the end of 2025 - 53.4%. The state budget deficit is  forecasted to be 5.5%.  Earlier, it was reported that, Armenia  intends to attract from 400 to 500 million dollars annually in the  medium term. Next year, $600 million will be attracted to cover the  state budget deficit.