Armenia to conclude 2022 with 11-12% economic growth

YEREVAN, SEPTEMBER 29, ARMENPRESS. Armenia is expected to conclude the year of 2022 with 11-12% economic growth, Minister of Finance Tigran Khachatryan said at the Cabinet meeting today, presenting the draft law on the 2023 State Budget.

He reminded that the economic activity has increased by 13.9% in the first eight months of 2022, as a result of which the plan of tax revenues approved by the state budget is being over-performed.

“The current economic developments hint that we will sum up 2022 with 11-12% economic growth. This fact itself is very positive, but in order to ensure the 7% economic growth for the next year we are also required to accelerate the reforms which are going to improve the conditions of the private sector of the economy, as well as to raise the efficiency of the implementation of economic and social programs funded by the state budget”, he said.