EDB expects Armenian GDP growth to exceed 6 percent in 2019

08.10.2019 16:37
EDB expects Armenian GDP growth to exceed 6 percent in 2019

YEREVAN, October 8. /ARKA/. In an exclusive interview with Arka news agency Andrey Krainiy, deputy EDB Board Chairman, said the Bank forecasts that the economic growth in Armenia by the end of 2019 will exceed 6% and will be one of the highest in the EDB member countries.

He said this will be facilitated by an increase in consumer activity in the face of increased wages and credit, as well as the restoration of production in the extractive industries and agriculture.

He said in the medium term, the Bank expects that the country's GDP growth will remain high - about 5%. In his words, the country's economic development will be supported by the implementation of state initiatives to improve the investment climate, the gradual adaptation of the mining and metallurgical complex to changes in the regulatory regime of its activities, as well as further growth in production in sectors with high export potential, such as food and textile industries.

Armenian government's GDP growth projection for 2019 is 4.9%. The Central Bank of Armenia has revised it lately upward to 6.9%. Also, according to Moody's estimates, real growth in the medium term can reach about 5. 5-6% over the next few years. -0-

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