Armenia may see 4-5% economic growth in 2018: finance ministerFebruary 23, 2017 - 16:18 AMT PanARMENIAN.Net - Armenia may aspire to economic growth rates of 4-5% in 2018, finance minister Vardan Aramyan told reporters on Thursday, February 23. “We need to have the economy grow at a faster pace than the projected 3,2%,” he said. “I can’t divulge specific figures but what I can say is that we are currently developing a medium term expenditure framework (MTEF) for the next three years to strive for more development space.” “We can aspire to 4-5% GDP growth next year, at the very least,” Aramyan added. In response to the reporters’ remarks suggesting that economic figures have continuously declined since president Serzh Sargsyan took office in 2008, Aramyan said: “2002-2008 was a growth period for the whole world, accompanied with strong capital inflows, as a result of which nօt just Armenia but neighboring Georgia and Azerbaijan as well ensured stable economic growth. Following that period was a cycle of recession. Economic cycles usually last 6-11 years globally - recession, stabilization and growth. We have to consider factors before trying to bend over backward to achieve 6-7% growth.” Minister of economic development and investments Suren Karayan declared earlier that Armenia is projected to register a 3,2% economic growth in 2017. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |