16:22, 8 June, 2020

YEREVAN, JUNE 8, ARMENPRESS. Armenian Minister of Economy Tigran Khachatryan says 2021 is going to be the year when as a result of the novel coronavirus situation what was lost in the economy will be restored by quantitative indicators.

During the parliamentary debate of the 2019 budget performance report, asked how much time will be needed for recovering the damages caused to the economy, the minister said: “The world’s leading organizations assess 2020 as a year which will be overcome with minimal losses. There are various assessments, according to different international organizations 3-5% decline will be registered both in the developed and developing economies. And almost all international organizations assess that in 2021 these same economics will be restored with the same rate”, he said, adding that Armenia will not be an exception as well.

Armenia will try to orient itself quickly, will try to act quickly, as this will be very important during the restoration period. He said 2021 will be a year for restoring what has been lost. “We can’t and don’t want to return to the point where all these started. We should position ourselves in the new world’s new reality in a way and propose the world such goods and services which are competitive, demanded and guarantee long-term development opportunities. I think 2021 will be the year of growth when what has been lost will be mainly brought back in the form of quantitative figures”, he added.

But as for 2020, an economic decline is forecast both in the global economy and Armenia.

Reporting by Anna Grigoryan; Editing and Translating by Aneta Harutyunyan