Combination of monetary and fiscal policies should create a dynamic and stable macro-economic environment that will enable the achievement of short-term as well as medium and long-term sustainable economic growth, ensuring the target indicators in 2040. This was announced RPA leader Serzh Sargsyan on May 18 during the the first session of the newly elected National Assembly.
According to him, it is necessary that the average annual rates of economic growth be well above from the average economic growth international rates to gradually reduce the difference between the GDP per capita in Armenia and developed countries.
He said that considering the current economic situation and features in Armenia, the state should have a proactive role in the economy. "The state should encourage and promote the competitive potential of a large and mostly export industries based on local resources and, why not, the development and implementation of specific projects."
According to Serzh Sargsyan, it is necessary to continuously improve the business environment and eliminate barriers to business, taking into account the reports of doing business and competitiveness reports published by various international organizations. "They make our economies compatible with more than 150 households and point out the problems, solutions to which will improve the attractiveness and competitiveness of Armenia. Our goal is to progress up in the top of the first 20 places in "Doing Business" rating and the in 15 places in the next 4-5 years. This is very important".
"In particular, during 1990-2015 Armenia's GDP reached from 2 billion 257 million US dollars to 10 billion 529 million, an increase of about 4.7 times. During the 2016-2040 period, too, we have to ensure an average annual GDP growth of about 5 percent and reach more than 57-60 billion dollars of GDP, providing approximately five and a half times increase.
Per capita GDP in 2040 was expected to be about $ 15,000, taking into account the planned improvements of GDP growth rates and the demographic situation",-the president said.
"Exports of goods and services over the next 5 years due to the increase in export promotion and competitiveness should make up 40-45 percent of GDP, and the same trend maintaining by 2040 it will reach up to 50-55% of GDP",- the country's leader said.

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