Armenia’s economic prospects are positive for following years, expert says

20.06.2017 18:32
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-


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