The Armenian government is expecting a 2.4% economic growth this year instead of the previous forecast of 2.2%, the newly-appointed Finance Minister said on Tuesday, October 4.

A further economic growth of 3.2% is expected in 2017, Vardan Aramyan said, according to Tert.am.

“The Prime Minister’s assessment of the economy situation in Armenia must be accepted as a reality, but this doesn’t mean we should be having bad expectations from the future,” the Minister said.

According to him, remittances to Armenia decreased by some $700 million in 2014 and 2015. A further reduction of some $140 million is expected to be registered in 2016, he said.