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Armenian Finance Ministry Forecasts $30.6 Bln GDP In 2025

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  • Armenian Finance Ministry Forecasts $30.6 Bln GDP In 2025

    ARMENIAN FINANCE MINISTRY FORECASTS $30.6 BLN GDP IN 2025

    Interfax, Russia
    March 11, 2013 Monday 5:28 PM MSK

    The Armenian Finance Ministry predicts real GDP will grow 6.5% in
    2025, compared to 7% in 2012, the ministry said on its website in
    its Strategic Development Program for 2012-2025.

    GDP is expected to grow from $10.4 billion in 2012 to $30.6 billion
    in 2025 and per capita GDP is predicted to grow from $3,400 to $10,000.

    The Finance Ministry projects that government debt will fall from 45.7%
    of GDP to 33.1% of GDP.

    The program says that investment will grow from 26.1% of GDP in 2012 to
    27.5% of GDP in 2025. Budget revenue is to go up from 22.7% to 27.6%
    of GDP and spending from 25.9% to 29.1%. Industry will account for
    22.4% of GDP in 2025, up from 16.8% in 2012, agriculture for 14.2%,
    down from 20.1%, and services for 42.4%, up from 40%.

    Economic growth in 2012 was 7.2%, according to preliminary figures,
    compared to 4.6% growth in 2012. Government debt reached $4.37 billion,
    or 42.6% of GDP. The finalized macroeconomic indicators for 2012 will
    be announced in the next month or two.

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