“Our political objective is to transition to a high economic growth model”, PM tells lawmakers

YEREVAN, OCTOBER 28, ARMENPRESS. The Government of Armenia hopes to reach 7,8,9 percent economic growth indicators within 2020-2022, Prime Minister Nikol Pashinyan said at parliamentary committee debates of the 2020 state budget draft.

“In the budget draft you will see certain conservative approach in terms of economic growth figures, which is probably a bit lower on the background of our political and economic ambitions. In this year’s adopted mid-term spending program we’ve noted that our political objective is to record and transition to a high economic growth model, and this model is basically recorded in the 2020-2022 timeframe. We hope to achieve in this timeframe respectively 7,8,9 percent economic growths. Frankly speaking I do find this to be realistic, also given the moods that we have in our economy today,” the PM told lawmakers.

PM Pashinyan said that the economic revolution in Armenia is currently gaining momentum, it is already reality and this revolution is already visible to the naked eye.

“Huge investments are being made in Armenia. Of course, our biggest problem is to implement capital spending in the volumes which we had planned. But I would like to say for the record that although to some extent we are under-performing capital spending, compared to last year we have certain growth of significant and tangible and already factual capital spending volumes,” Pashinyan said.

Edited and translated by Stepan Kocharyan