We Will Have a 4.6% Economic Growth This Year, Central Bank President

The Central Bank is implementing a classical monetary policy, stated Central Bank President Martin Galstyan at a press conference held at the Central Bank. “I believe all our actions have been logical and timely, resulting in an 8.3% inflation rate for the year. This is higher than our target, but significantly better than many countries around the world. The economic growth is also among the best in the world,” said the Central Bank President.

According to Galstyan, the net inflow of remittances was a record 2.5 billion over the past year. “The first place is held by Russia, accounting for about 71%, followed by the USA, and third is the ‘other’ category, which represents a group of countries,” added the Central Bank President.

In his assessment, the construction sector will continue to exhibit strong growth in 2023, with an industrial growth forecast of 5.7%. “According to our forecasts, we will have a 4.6% economic growth throughout the year,” he concluded.