Time in Yerevan: 11:07:36,   23 March

Minister Karayan considers 7.5% GDP growth impressive figure for Armenia’s economy

YEREVAN, FEBRUARY 28, ARMENPRESS. The Armenian government will not be satisfied with the high economic growth rates recorded in 2017 and will target its stability and inclusive growth, Suren Karayan – minister of economic development and investments, said in response to an inquiry of ARMENPRESS, commenting on the 7.5% GDP growth rate recorded in 2017.

-Mr. Karayan, the National Statistical Service summed up the GDP figure for 2017. What is the overall picture and what fields did mainly contribute to the economic growth?

-The GDP growth comprised 7.5% in 2017 which in the context of the past ten years is quite an impressive figure for our economy. The GDP growth was mostly contributed by the services (3.6%) and industry (1.8%). Moreover, thanks to the 10.4% industry growth, which differs from the figures recorded for years (except 2011, the increase was 13.6%), the industry’s share in GDP reached 17% which is the highest figure since 2006. The GDP growth was also contributed by the trade (1.7%) and construction (0.2%). Despite its small contribution, the construction field provides quite an optimistic impetus on the background of declines of the past four years. I want to state that we will not be satisfied with the high figures recorded and will target their stability and inclusive growth.

English – translator/editor: Aneta Harutyunyan


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