Armenia’s gross domestic product (GDP) amounted to some AMD 5.05 trillion in 2016, up by just 0.2% against the previous year.

According to the national statistical service, a 4.7% growth was registered in Q1, 2.6% in Q2, while Q3 and Q4 saw a significant decline - 2.6% and 1%, respectively.

The state budget of 2016, however, stipulated a 2.2% GDP growth.

The government of prime minister Karen Karapetyan has promised an 3.2% ecenomic growth for 2017, while finance minister Vardan Aramyan said the country may aspire to economic growth rates of 4-5% in 2018.