YEREVAN, June 11. /ARKA/. Armenia’s government will make every effort to minimize external risks and achieve economic growth in the country as of the end of 2015, Armenia’s minister of finance Gagik Khachatryan said in his interview to “Golos Armeniyi” newspaper.
For this, programs that boost exports are implemented and tax, budget and monetary-credit policies are used for coordination, Khachatryan said. Time will show to what extent the aim will be achieved, he added.
The minister reminded that at the end of 2014 some international organizations projected a decline in the Armenian economy by the end of 2015 due to global processes and unfavorable factors from partner countries, Russia in particular.
“Yet, we have recorded a 2.7% growth of economic activity in the country as of the end of January-April 2015,” the minister said.
In projecting the future growth one should keep in mind quite substantial external risks that are still there, according to Khachatryan.
In particular, the Armenian economic is affected mainly by the regional economic situation, the developments in the Russian economy, currency rate fluctuations and reduction in remittances, he said. Yet, the situation in the economy is not critical, according to the minister.
Earlier Armenia’s premier Hovik Abrahamyan said the country will post at least 2-3% economic growth as of the end of 2015. Implementation of the planned programs will provide more visible results in the second half of the year, the premier said.
Many international organizations have recently lowered their economic projections of Armenia’s GDP growth for 2015. In particular, the World Bank says it is 0.8%, EDB’s forecast is 1.6%, ADB’s projection is 1.6%. The IMF expects the Armenian economy to decline by 1% and the EBRD projects a 1.5% decline.
Fitch Agency said in its last review a moderate recession was expected in Armenia in 2015 due to the worsening in Russia. According to Moody’s, Armenian economy will grow by 2.3%. –0–
