YEREVAN. – The Government of Armenia has reduced the country’s 2013 GDP growth forecast all the way to 4.1 percent, notes the statement of the draft 2014 State Budget. 

To note, at the beginning of the year, President Serzh Sargsyan had set a task before the government to ensure a 7-percent economic growth, and a 6.2-percent forecast was put on the basis of the 2013 budget.

The government has argued that the drop in the economic growth rate is due to the internal developments in Armenia and the slowdown in the growth of global economy. 

A 5.2-percent economic growth forecast is put on the basis of Armenia’s 2014 State Budget.