YEREVAN, NOVEMBER 2, ARMENPRESS. 6% economic decline is expected in Armenia for 2020 by the 2021 state budget draft, whereas for 2021 – 4.8% growth is forecast, Minister of Finance Atom Janjughazyan said during the parliamentary committee debate of the 2021 state budget draft.

“According to the draft, 6% economic decline is expected for 2020, whereas for 2021 4.8% growth is forecast”, the minister said.

Thus, the 2.6% decline forecast for 2020 has been revised to 6%.

In line with the restoration of the demand, it is supposed the inflation will approach the lower rate of the targeted figure.

As for the indicators of 2020, the minister reminded that the GDP has been cut by 5.7% in the first half due to the coronavirus pandemic. The main negative impact was registered in the services field, and the decline in the demand has been conditioned by the decline in consumption and investments.

Reporting by Anna Grigoryan; Editing and Translating by Aneta Harutyunyan