Fri, 4 April
11.1 C
Yerevan
USD: 391.32 RUB: 4.67 EUR: 432.53 GEL: 141.78 GBP: 514.27
spot_img

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

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Top 10 banks of Armenia by loan portfolio for 1st H 2020

ARKA News Agency has singled out ten banks for their big loan portfolios as of June 30, 2020

S&P reaffirms Armenia’s sovereign credit ratings with stable outlook

On August 23, international credit rating agency S&P Global Ratings reaffirmed Armenia's long-term and short-term sovereign credit ratings in both foreign and local currency at "BB-/B." The agency also maintained its "stable" outlook for the country.

Fitch Ratings has affirmed Armenia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BB-‘ with a Stable Outlook.

Fitch Ratings has affirmed Armenia's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB-' with a Stable Outlook

Armenian Finance Minister  and IMF Mission head discussed fulfillment of obligations under SBA

Armenian Finance Minister Vahe Hovhannisyan discussed today the 5th revision of the Stand-By Arrangement (SBA) at a meeting with IMF Armenian mission chief Iva Petrova.

LATEST NEWS

spot_imgspot_imgspot_img