Economic activity grew by a record 7.7% in 2017

According to all, the year will close with 7% economic growth, as predicted by the Ministry of Economic Development and Investments. Business for business writes about this.

The RA National Statistical Service today published preliminary macroeconomic indicators for January-December 2017. Accordingly, the increase of the economic activity index in 2017, compared to 2016, increased by 7.7%.

TAC has been calculated since 2011 and since then this is the highest indicator.

The previous record was set in 2012, when economic activity increased by 7.2%.

On a monthly basis, in December 2017 compared to December 2016, economic activity increased by 12.6%.

It is noted that the growth of economic activity is caused mainly by the 14.4% growth of the service sector and 12.6% growth of the industry sector.

Judging by these indicators, it can be more definitely stated that the economic growth (GDP growth) of 2017 will be around 7%. The source reminds that 3.2% growth was initially predicted for this year, but the forecast was later revised. At the end of 2017, the Ministry of Economic Development and Investments announced that according to their forecasts, the year will close with an increase of around 7%.