Time in Yerevan: 11:07:36,   25 June 2022

For government 7% remains the target for economic growth - Armenian Economy Minister 

For government 7% remains the target for economic growth - Armenian Economy Minister 

YEREVAN, MARCH 23, ARMENPRESS. For the Armenian government, the 7% target for economic growth continues to be maintained. The government still sees enough potential for achieving this target, Minister of Economy Vahan Kerobyan said during a Q&A session in the Parliament today.

In response to the question of a lawmaker that the Central Bank has revised its forecast for the economic growth, lowering it from 5.3% to 1.6%, and what is the forecast of the economy ministry for the economic growth, Minister Kerobyan reminded that the government’s target for the economic growth is 7%.

“At the moment we are doing our work around this target, despite the fact that the International Monetary Fund, the Central Bank and Fitch have lowered their forecasts. We still see enough potential to achieve the targets put by the government as a result of the implementation of our economic policy. Of course, this became difficult in these new situations, but isn’t impossible. Our target is still the same as it was while drafting the budget in the beginning of the year”, he said.

However, the Minister noted that the inflationary pressures have increased. Last week the import tariffs for qa broad range of products in the Eurasian Economic Union were zeroed, which, according to him, will help to decrease these inflationary pressures. “But this is not the end yet, new lists are coming which again will help to decrease the inflationary pressures”, Kerobyan said.


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