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Armenia’s 2018 state budget is designed on a general rule to generate long-term economic growth, Armenian Minister of Finance Vardan Aramyan stated today during the debates on the draft state budget law for 2018. In his words, the 2017 state budget revealed the priority sectors in the economic activity index which are the manufacturing industry, the services and the trade. “This provides ground to forecast 4-4.3 percent economic growth for 2017, while the expected number in the 2017 budget draft law was lower, amounting to 3.2 percent,” Aramyan noted.

The finance minister pointed out to the unprecedented growth in the tourism sector with more than 30 percent recorded growth. As to the year 2018, Aramyan said expectations indicate to 4.5 percent economic growth.

“The main investments are expected in the industry, services while positive trends are observed in services as well. The agriculture and constructions sectors are showing positive signs of recovery with the potential growth in agriculture sector assessed at 3-4 percent,” Aramyan added.