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January 12, 2018  15:12

Artsakh Finance Minister: 15% economic growth for 2017 is expected

The most important indicator of the year past, the GDP, will comprise about AMD 267 billion.

STEPANAKERT, JANUARY 12, ARTSAKHPRESS:Minister of Finance of Artsakh, Grigori Martirosyan said the aforesaid on Friday during his press conference. He noted that in Artsakh the expected growth of GDP for 2017 will total 15%.

“It is a very high indicator; and during the past 10 years we haven’t registered such.

‘’6% from 15% growth in GDP will be provided by the mining industry and the remaining 9% by other economic branches,’’ Mr Martirosyan said. He emphasized the key spheres of material production: industry — production worth 84 billion, which has to provide at least 30% growth; in construction sector the volume comprised 53 billion drams, providing 16% growth; in the agricultural sector — AMD 75 billion, providing 10% growth. According to Artsakh National Statistical Service, starting from June 2017, there was a deflation. The year will be summed up either by slight inflation or by stable price level.

According to the minister the total amount of state revenues is formed by tax revenues. In 2017 it totaled AMD 39 billion instead of the planned 37.5 billion drams, which has been overfulfilled by 6.1%.

50% of the sum collected as a result of overfulfillment was provided by the additional taxes from Base Metals mining company. The remaining 1 bln 150 mln drams was provided by other taxpayers. Tax revenues increased by 22% in 2017 as compared with 2016.

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