Armenia’s GDP expanded by at least 7.5% in 2019, Minister of Economy Tigran Khachatryan said on Tuesday, January 14.

The Minister believes that 2020 has started well, based on the positive results from the previous year.

Khachatryan said the industry, services, trade, construction, exports have all grown in the 11 months of 2019.

The indicators of Gross Domestic Product haven’t been summarized, yet the Minister expects at least 7.5% growth in the country’s economy.

Armenia’s GDP growth stood at 5.8% in 2018.

The January 2020 edition of the World Bank’s Global Economic Prospects (GEP) report is out now to predict a 5.1% GDP growth for Armenia in 2020, and 5.2% in 2021 and 2022.

The Azerbaijani and Georgian economies, meanwhile, are forecasted to expand by 2.3% and 4.3%, respectively.

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