YEREVAN, March 26. /ARKA/. Armenia’s Economy Minister Vahan Kerobyan has reiterated today his earlier made forecast that the country’s economy may expand as much as 10 or even more percent in 2021 in case the current pace of recovery is maintained.
Citing the Central Bank’s growth forecast for this year which is 1.4% and the government’s projection of 3.2%, the minister said the growth data for the first two months of the year are better than for the same period in 2019.
“If we compare the data and if we maintain the same growth rate in relation to 2019, then by the end of 2021 we will register at least 10% economic growth compared to 2020,” Kerobyan said.
According to him, this will be facilitated by numerous projects that are already in the process or are just beginning. As an example, he cited the largest intensive apricot orchard that was announced earlier this week that saw multimillion-dollar investments with state assistance.
“Investments are also being made in numerous greenhouses, intensive farms; there is high activity in the agricultural sector, as well as in the industrial sphere, but I would prefer to talk about them when they start working,” Kerobyan said.
According to the National Statistical Committee, Armenia’s economic activity in the first two months of 2021 was 6.7% down from the same time span in 2020. However, in February 2021 the economic activity index was 12.4% higher than in the previous month.
The construction was the only sector that posted growth in the first two months of 2021. Compared to the same period in 2020 it grew by 1% to 28.8 billion n drams. At the same time, in February 2021 compared to January 2021, the growth was 28.4%.
The government’s growth projection for 2021 is 3.2%, and inflation is set at 4% (± 1.5%). Earlier this month the Central Bank revised its forecast for economic growth for 2021 downward from the previous 2% to 1.4%. ($1 – 528.32 drams). –0–