According to the results of 2018, the Ministry of Economic Development and Investments of Armenia expects an increase in economic activity at the level of 5.2-5.3%
The total growth rate of economic activity for the 2018th year will be 5.2-5.3%. On January 17, after the government meeting, Acting Minister of Economic Development and Investments of Armenia Tigran Khachatryan, answering the question of ArmInfo, announced this.
According to Khachatryan, in 2018 in the industry, in terms of growth, the influence of the processing industry prevailed. In general, as indicated by Acting heads of department, approximately the same amount will be GDP growth in January-December 2018.
To note, in the state budget of Armenia for 2018 the growth of GDP is 4.5%, in the state budget for 2019 - 4.9%. According to the RA Statistics Committee, in January-November 2018 economic growth slowed to 5.7% from 7.3% in the first 11 months of 2017. The growth drivers were the service sector and the trade sector, against the background of a more modest ascent of the construction sector, industry and the power complex, with the continuing decline in the agricultural sector.
December 21, 2018, answering the question of ArmInfo Armenian Acting Finance Minister Atom Janjughazyan stated that the growth of the Armenian economy in 2018 will be approximately 5%. Tigran Khachatryan himself on November 23 at a press conference predicted GDP growth in the range of 5-6%.
Meanwhile, in its November update, the CBA revised the GDP growth range for 2018 from the previous 5.6-6.9% to the current 4.6-5.1%. The Central Bank also revised the expected growth limit in the medium term in the direction of slowdown: 4.4-5.5% for 2019 and 3.9-5.4% for 2020 (versus previously predicted 4.6-6.4% and 4,1-6.2%, respectively). The World Bank improved the forecast for GDP growth in Armenia for 2018 from the previous 4.1% to the current 5.3%. The World Bank also improved the forecast of GDP growth in Armenia for 2019 - from the previous 4% to the current 4.3%, with an acceleration to 4.6% in 2020. According to IMF expectations, GDP growth in Armenia in 2018 will be lower than the previously projected 6%.