News & Analysis

Armenian economy records 5.2 per cent growth

Armenian finance minister Atom Janjughazyan has said that the country’s economy expanded by 5.2 per cent in 2018, adding that the increased quality of services contributed the biggest share to growth (4.8 per cent), the Armenian press reports.

“It should be noted that this happened when the world economy grew by only 3.6 per cent, the EU economy – by 2.1 per cent, and the average growth rate in the EAEU [Eurasian Economic Union] countries was 2.5 per cent,” the finance minister said on June 5.

According to the World Bank’s latest projection, the Armenian economy is expected to grow by 4.2 per cent in 2019, 4.9 per cent in 2020 and 5.2 per cent in 2021.

The country registered 7.1 per cent economic growth year-on-year during the first quarter of 2019.