A 4,9% economic growth is forecast under the 2019 state budget draft of Armenia.
Finance minister Atom Janjughazyan told a news conference today that this “isn’t a dream budget at all”.
“Do we consider our dream to be that we must live in a country where GDP per capita is expected approximately at 4600 dollars? No. We have [greater] aspirations,” he said. He said that several processes are underway, one being a new model of economic growth, which is currently under discussion.
The minister says that it will lead to a destination where actions for the coming period will be specified.
“We must carry out specific actions in order to have a different kind of economy,” he said, adding that as a result of the fiscal policy of the 2019 state budget the debt will be stabilized and have lower level than in 2018.
He said that the 2019 budget draft includes a 20 billion dram increase in social pension allocations.
