Armenian Prime Minister Karen Karapetyan said he expects to have sustainable economy growth from 2018.

In an interview with Reuters agency, Karapetyan said Armenia is ready to take unpopular steps including cutting state spending and eliminating barriers to private investment in order to stabilize economy.

“Regular structural reforms will be implemented in Armenia, even if these reforms are unpopular,” he said.

The PM believes cutting administrative expenses and plans to reduce the budget deficit might impact economic growth, but the measures were necessary.  Karapetyan added that government's target of 2.2 percent growth should be exceeded this year.

He said that his government would also focus on fighting corruption and "eliminating all barriers that impede business from developing".

“As soon as we manage to stabilise the economic situation, we'll be able to have sustainable growth from 2018,” Karapetyan emphasized.

Karapetyan said a new centre for strategic initiatives would look to draft short- and long-term projects with the private sector and it was “realistic” to try to attract $850 million of investment this year, with the bulk coming from the private sector.