Tue, 9 September
32.1 C
Yerevan
USD: 382.95 RUB: 4.60 EUR: 450.04 GEL: 142.25 GBP: 519.82

Ex-head of central bank describes economic figures as positive

YEREVAN, December 24, /ARKA/. Armenia’s economic growth of about 6% this year is within the expected band and is quite positive, the ex-head of the Central Bank Bagrat Asatryan told reporters today. Speaking at a news conference he said the figure is very good for the current year in view of certain structural changes taking place in the economy.

He said one should not expect that six months after dramatic political changes that has brought about a kind of stress, the crackdown on corruption and monopolies will translate into high economic figures. At the same time, he said the economic policy of the new Armenian government has both omissions and positive trends.

As a negative factor, he singled out the change in the balance of foreign trade balance with higher rates of imports that will almost double exports by yearend. As a positive factor he pointed out structural changes in the economy, including the growth of the processing industry against the background of a drop in the mining sector.

However, according to him, the new government has failed so far to present programmatic approaches that would allow the country to develop.

“The budget, for example, lacks specifics and tasks that are to be solved in the near future,” said Asatryan.

At the same time, he noted that, in general, expectations for 2019 will be quite positive.
Armenia’s economic activity in November 2018 grew by 3.6%, when compared with November 2017, according to the National Statistical Committee (NSC). In general, the economic activity index in the first 11 months of this year was up 5.7% as opposed to the same time span of 2017.

In November 2018, the 12-month inflation was 2.6%. Also Armenia’s foreign trade amounted to about $6.723.6 billion, an increase of 19.1% compared to the same period of 2017. The government’s projection of economic growth for this year is 4.5%. -0-

spot_img

POPULAR

3.6% inflation registered in Armenia in August

n the consumer market of Armenia, 12-month inflation in August of this year amounted to 3.6%, according to the report of the National Statistical Committee (NSC) of Armenia.

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Freedom Broker Armenia ranks as one of the largest taxpayer in Armenia

Freedom Broker Armenia has been recognized as one of the largest taxpayers in the country, underscoring its leadership in the investment sector and commitment to sustainable business practices.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

ArCa payment system reinstated

The Armenian Card (ArCa) payment system has been completely reinstated, according to a report from the company's press service.

LATEST NEWS

spot_imgspot_imgspot_img