An average y-o-y economic growth of 5%, as laid down in the government`s program, is quite ambitious.
The Armenian government aims to ensure y-o-y economic growth at an average of 5%, which is fixed in its five-year program of activities. The Minister of Economic Development and Investments of Armenia Tigran Khachatryan said this on February 8 after the sitting of the Cabinet.
According to the Minister, last year's reports indicate that in the world the average economic growth rate is 3.7%. "We want to provide such conditions so that growth will be significantly higher. But for this, a base is needed - investments. If during a specified period of time (five years) the government succeeds in stabilizing the main investments at 23-25% of GDP, then be sure that In the future, we will talk about higher growth rates, " Khachatryan said.
At the same time, as the head of the Ministry of Economic Development indicated, in this transitional period, when the economy is undergoing structural changes, new industries appear that will play a large role in the economic life of the country, by conquering new markets, 5% is a pretty good, ambitious indicator. As the head of the department noted, 5% of GDP growth is an average figure for a five-year period: one year's growth may be 4.5%, and another 6%. According to the state budget of Armenia, GDP growth in 2018 was planned at a rate of 4.5%. Already in 2019, an increase of 4.9% is expected, and inflation is 2.7%.