YEREVAN. – The Ministry of Finance does not expect external shocks for Armenia, starting from the coming year, newly appointed Finance Minister Vardan Aramyan said at a press conference on Tuesday.

He noted this as he presented the 2017 budget expenditure plans with respect to economy.

As per Aramyan, owing to not expecting external shocks and an increase in tax collection, a 3.2 percent economic growth is expected for Armenia in 2017.

The minister of finance noted that the two main risks for Armenia—i.e. the economic difficulties in Russia, and the drop in world metal prices—seem to be reducing. And based on these positive forecasts, as per Aramyan, the Russian ruble also will start to strengthen.

The minister added that all this has also helped the exports from Armenia to Russia.

In addition, the Ministry of Finance of Armenia expects a 4.6-percent increase in raw material prices, in 2017.

Vardan Aramyan added that the reduction in economic risks will enable to pass to the anti-phase budget expenditures that are aimed at reducing the budget deficit.