The role of transfers in the country's economy is declining, which is a positive factor and speaks of its development. This was announced at a meeting with journalists on November 5 by the head of the monetary policy department of the Central Bank of Armenia Vahag Grigoryan, presenting the “Financial Stability Report” for the first half of 2019.
According to him, inflation at the end of the year is projected at 1.5%, and it is planned to fix the indicator to 4% in the long term.
As he noted, the economic growth is projected at 6.9%, and it is possible that it will be at the level of 7 - 7.1%, and this taking into account the fact that there is a decrease in consumption growth in the world amid growing uncertainty.
“The low level of inflation and uncertainty in the economy is the key to its growth. Amid the uncertainty in the world, Armenia does not feel the consequences, but the risks have increased,” he said.
The specialist noted that growth was recorded in the sphere of production and services, but there was a drop in growth in agriculture. “Economic growth in Armenia is associated with high levels of consumption…amid the development of the labor market, as well as productivity growth due to optimization in the economy, the indicators of economic growth in the long term were reassessed from 4.5% to 5%,” he concluded.