YEREVAN, March 12. / ARKA /. Armenia’s ministry of finance predicts that the Gross Domestic Product (GDP) will be growing annually 6.3-6.5% up to 2025. This figures can be found in the government’s “Long-Term Strategic Development Program for 2012-25.” It forecasts a 6.3 percent economic expansion for 2013.
According to this program, by 2025 Armenia’s GDP will reach $30.6 billion, up from $10.8 billion projected for 2013. By 2025 per capita GDP is supposed to rise to $10,064, which is by $6,496 higher than forecasted for the current year.
The program also projects industrial growth of 9-10 percent a year up to 2025 to exceed GDP growth rate and to make 22.4 percent of the overall gross domestic product.
Under the program, the agriculture is to grow by 3-5 5%a year until 2025, and its share in GDP at the end of the period is to reach 14.2%. Also, construction is projected to grow from 4 to 7%, and its share to make 11.3% of the GDP. Services are expected to grow 6-7% to 42.3% of the overall GDP by 2025.
The ministry of finances also expects investments to make 27.5% of GDP by 2025 reaching the peak in 2017 – about 28.4% of GDP. The projection for this year is 26.9% of the GDP.
Armenia’s external debt is to gradually reduce to 16.2% of GDP. -0-
