Armenian Minister of the Economy Vahan Qerobyan sounded optimistic about the country’s estimated performance in 2021, telling reporters today in Yerevan that he expects double-digit growth.

Following a government cabinet session, Qerobyan spoke to waiting reporters and gave his economic prognostications for the new year.

He said inflation would not exceed 2-2.5% and that Armenia has significantly less inflation than its neighbors.

As for 2020, Qerobyan said he expects Armenia’s economy to have declined by 8.5% when all the numbers were in and reviewed.

“There’s been a 20% drop in imports, exports and consumption,” he said.

The International Monetary Fund has predicted that Armenia's economy will grow by 1% this year.