YEREVAN, JANUARY 11, ARMENPRESS. The Chairman of the National Assembly’s Standing Committee on Financial-Credit and Budgetary Affairs Gagik Minasyan considers the fact that World Bank expected 2.2% economic growth in Armenia, 2016 as positive which is also foreseen by Armenian 2016 state budget. Gagik Minasyan, during the meeting with journalists on January 11, noticed that the economic situation in the region continues to deteriorate for political a reason which has an impact on the economy. “Economic sanctions against our main economic partner Russia continue, oil prices continue to decline and, as a result, the Russian ruble continues to depreciate. And this is a serious challenge for us. What refers to the economic growth, we also recorded 2.2% economic growth in the 2016 state budget. We set such result taking into account the difficult economic realities of the region,” Minasyan emphasized, as “Armenpress” reports.

Minasyan considers another challenge for Armenia the tense relations between Iran and Saudi Arabia as a result of which some countries have launched economic sanctions against Iran. “Relations between Iran and Turkey became somewhat strained over this case as Iran accuses Turkey in executions taking place in Saudi Arabia because the mentioned incidents were held at the time when Turkish President was in Saudi Arabia a few days before,” the deputy mentioned.

Economic hard situation was also created in Azerbaijan. According to the MP, Azerbaijan's economic situation will get worse, causing the authorities to distract public attention from domestic problems by deepening tension on the border. “Azerbaijani such actions will complicate the implementation of our economic expectations particularly in terms of investments,” Minasyan said.

The deputy in the created hard situation highlights outlining the basic directions which will allow Armenia to realize those economic projects which are foreseen. Over the mentioned case he gave an importance to the reformed constitution, the activation of fight against corruption and the creation of a favorable environment for equal competition conditions in the country.