Tue, 1 July
18.1 C
Yerevan
USD: 384.47 RUB: 4.90 EUR: 450.83 GEL: 141.25 GBP: 526.80

Armenia’s economic prospects are positive for following years, expert says

YEREVAN, June 20. /ARKA/. Armenia’s economic prospects for the next few years are positive, Alexey Cherekaev, a project group director at the Eurasian Fund for Stabilization and Development (EFSD), said in an interview with ARKA news agency.

“Given the gradually recovering consumer demand, economic growth is also recovering and according to forecasts, by the end of 2017 it will be 2.7% and 3.6% in 2018. This is why we look at the Armenian economy positively. Its forecasts are the best indicators in the Eurasian Economic Union, “he said.

Cherekaev noted that the growth will be ensured by the growth of consumer demand and exports.

According to him, the growth of exports will be driven by the agriculture, as consumption is growing and Armenia’s opportunities for export of agricultural products are also growing.

“As far as we know, a logistics terminal is being built for export of agricultural produces along with the necessary infrastructure. The growth of exports should in turn spur GDP growth,’ he said.

“The growth of consumer demand will also be secured taking into account the fact that in Russia the consequences of the crisis have been slightly smoothed out and, consequently, growth will be provided by increasing remittances,” he said.

Armenia’s GDP growth in 2016 slowed down to 0.2% from 3% in 2015, down from the government’s projection of 2.2%. The GDP growth for 2017 is predicted at the rate of 3.2%. -0-

spot_img

POPULAR

Armenia to receive EUR 26 million loan from KfW bank for renewable energy development

Armenia will receive a loan and a grant from the German KfW bank for the implementation of the "Renewable Energy and Energy Efficiency Development" program.

Ratio of loans to deposits in commercial banks of Armenia has improved – WB review

In April 2025, deposits and loans of commercial banks of Armenia increased by 1.5% y/y and 0.8% y/y, respectively, slightly improving the ratio of loans to deposits compared to the figures for the previous year.

AMX Reaffirms Compliance with International ISO Standards

The Armenia Stock Exchange and Central Depository (AMX) have successfully completed their compliance certification with ISO 27001:2022 for Information Security Management and ISO 9001:2015 for Quality Management Systems.

Euro falls by 0.62 points to 450.23 drams

The average market exchange rate of the US dollar against the Armenian dram as of June 27, 2025, decreased by 0.59 points compared to June 26 and amounted to 384.32 drams.

Armenia’s budget remained in surplus through April, despite a projected deficit

Armenia’s budget remained in surplus through April, despite a projected deficit, according to World Bank's Armenia Monthly Economic Update – June 2025.

LATEST NEWS

spot_imgspot_imgspot_img