2024-04-23 02:54:35
The Central Bank of Armenia predicts that the economic growth will be 5.6 percent in 2024, the President of the Central Bank, Martin Galstyan, said this in the National Assembly.
“We believe that the economic growth for this year will be within 7 percent. After having 12.6 percent economic growth last year, this year we will have, according to our estimate, 7.2 percent. We believe that growth should moderate somewhat next year, approaching the level of potential growth. According to our estimates, however, the growth will be somewhat higher than the potential, because quite large expenses are planned, but as of now, according to our forecasts, the growth for 2024 will be 5.6 percent,” he noted.
According to the President of the Central Bank, if the capital expenditures are not made in the specified volume, but they continue to increase the current expenditures, then this will lead to demand-driven economic growth, which will be cut off from its potential.
“And in case of breaking the potential, we will naturally have inflation, to which the Central Bank will respond from the point of view of curbing the excess demand. The response will be an interest rate increase,” said Galstyan, expressing hope that they will not go with that scenario.