Armenia awaits this year economic growth of 13%, despite the fact that previously the forecast was only 1.6%, due to the arrival of a large number of Russians to the country. This was announced by the head of the Central Bank of Armenia Martin Balstyan, the Armenian media reported.
“Now we see a huge influx of Russians and expect 13 percent economic growth this year. We see a 25 percent growth of human capital in the IT sphere. Talented, well-educated people move to Armenia, which may have a long effect”, – said Galstyan.
At the beginning of the year, the Central Bank of Armenia predicted an increase of 5% in 2022. But after the outbreak of war in Ukraine, it was reduced to 1.6%, given the relationship between the Russian and Armenian economies. However, as a result of the consequences of the war (which caused the influx of far from the poorest Russians to the country), the growth of the economy of Armenia did not slow down, but accelerated.