7.5% GDP growth is result of international market shifts, positive expectations: 2017 budget performance debate – LIVE

Armenpress 11:12, 29 May, 2018

YEREVAN, MAY 29, ARMENPRESS. The 7.5% economic growth recorded in Armenia in 2017 has been conditioned by the shifts in the international market, as well as by the features of the domestic market, Finance Minister Atom Janjughazyan said while introducing the 2017 budget performance at the joint session of the parliamentary committees, reports Armenpress.

“The growth has been conditioned by the fact that the economic growth in partner countries, in particular in Russia, has been higher than predicted, as well as by the growth of metal prices in the international market, increase of monetary transfers from Russia to Armenia, the positive expectations among subjects and the growth of the recorded crediting”, the minister said.

He stated that the economic growth has been contributed by the growth in services field (5.1%), industry (1.8%), construction (0.2%), but the agriculture field had a negative effect on the growth by 0.6%.

As for the forecasted and factual revenue, expenditure and deficit figures, the finance minister said 1 trillion 210 billion AMD has been planned for revenues, 1 trillion 320 billion AMD by the adjusted plan, 1 trillion 237 billion AMD has been actually ensured. The expenditures were planned 1 trillion 360 billion AMD, 1 trillion 561 billion AMD by the adjusted plan, but it actually comprised 1 trillion 504 billion AMD. Deficit was planned 150 billion AMD, 240 billion AMD by the adjusted plan, and the actual deficit comprised 267 billion AMD.

English –translator/editor: Aneta Harutyunyan


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