News - Armenia economic growth will be 8.3% this year, 6.1% next year, central bank governor predicts

Economic growth in Armenia will be higher than expected at the end of this year. Governor of the Central Bank of Armenia (CBA), Martin Galstyan, announced this at a press conference Tuesday. He explained that the annual economic growth in Armenia will be 8.3 percent this year. Stable growth is expected next year as well, he said. "It’s about a 6.1-percent increase," added Galstyan. According to him, high economic activity is maintained in Armenia, and this is ensured by the high growth in the construction and service sectors of the country. "The main driving force of [economic] growth [in Armenia] is consumption. Retail trade on an annual basis according to October data increased by 17%," stressed the CBA chief.