Positive trends maintained in economic growth process, Armenian PM says

The positive trends in economic processes in Armenia are maintained, Prime Minister Nikol Pashinyan said at parliamentary committee debates of the 2020 budget.

Speaking about the government action plan’s reflection in the budget draft, he said the Cabinet is inclined to a conservative scenario.

“A 4,9% economic growth projection was at the foundation of the 2019 budget. Today, if we observe our indicators of January-September, we will see that economic growth predictions are much higher. We are guided with a more conservative scenario, we are placing at the budget’s foundation not the most optimistic but the conservative prediction, however we aim for more,” the Prime Minister said.

He said they had the same approach in 2018. The growth projection was 4,5% but factually it was 5,2%.

The PM noted that a 7,1% economic activity index has been recorded with results of the 10 months of the current year and that all international organizations have re-assessed their estimates regarding Armenia’s economic growth with a growth trend.

“Therefore, let me emphasize that with results of the current year’s 10 months we have 9,7% growth of industrial output volumes, 4,4% growth in construction, 8,8% growth in trade turnover, 15,5% growth in services. We also have 5,9% growth of average salaries. Export volumes grew 7,9% with results of the current year’s 10 months. Moreover when at the beginning of the year we had problems in terms of exports, there was an up to 3% drop, but at that time we were sure that we will achieve this kind of indicators,” he said.