The government intends to register a 3.2% GDP growth for 2017, Prime Minister Karen Karapetyan said, adding that "Armenia's economy has been accompanied with turmoils from the outside world in the last two years."

The PM noted that it's hard to secure economic growth and stability in such a situation; however, he pledged to do everything for that purpose.

"Given the economic inactivity, considerable effort will be needed to achieve the desired 3.2% growth in GDP," Karapetyan said.

The premier further noted that the economic downturn in the last two years in Armenia is caused by the current situation in Russia's economy and the decrease in money transfers.

He said budget receipts from taxpayers should be used sparingly, making the whole process transparent for the public, Ararat News reports.