YEREVAN, OCTOBER 31, ARMENPRESS. The potential of Armenia’s economic growth is assessed to be 5,5%, Finance Minister Vahe Hovhannisyan has said.

“We usually assess Armenia’s economic potential to be 5,5%,” he said at a parliamentary committee hearing on the 2024 state budget when asked by MP Artur Khachatryan how much the growth would’ve been in the past five years if the external economic conditions are averaged.

“At this moment, the potential of Armenia’s economic growth is assessed to be 5,5%. The capital investments which we are carrying out depend on this potential. The size of that potential depends on the investments, the diversification of our economy and the reforms which we are implementing,” Hovhannisyan added.

He said that the main effort of the government should be directed at increasing this potential.

The government of Armenia earlier said it expects 7% economic growth in 2023. 7% is also the target for 2024.