2024-09-10 04:02:16
According to the forecast of the world economy, it is assumed that 2020 will end with a 4.4 percent economic decline, Minister of Finance Atom Janjughazyan said during the discussion of the draft law “On the State Budget of the Republic of Armenia for 2021” in the parliament.
“Due to the impact of the epidemic in our country, the GDP was reduced by 5.7 percent in the first half of the year, the main negative impact was recorded in the service sector. The decrease in demand was caused by the reduction of consumption and investments,” the minister noted.
According to him, the deepest economic decline occurred in April, which eased in May. In terms of economic growth, the minister said that in 2020, according to the presented project a negative 6 percent economic growth was predicted for 2021. for it is estimated at 4.8 percent.
“These indicators differ from the law that was adopted by the National Assembly after it became the subject of discussion in October. According to that law, the forecast was revised to 6.8 percent of growth, due to the military operations, the amount of additional decline was estimated to be 0.8 percentage points,” Janjughazyan noted and added that in a certain sense it is assumed that this may lead to a revision of next year’s forecast.