Armenia's economic activity index highest since 2011

YEREVAN, FEBRUARY 1, ARMENPRESS. The economic activity index of Armenia amounted to 7.8% in 2019. This is the highest record since the index started to be calculated in Armenia, year 2011, Minister of Economy Tigran Khachatryan told ARMENPRESS.

“It’s good news that the growth of industry effected economic activity. The growth of industrial output amounted to 9%”, the Minister said.

According to Tigran Khachatryan, this growth is mainly conditioned by exports. Increase of export of cognac surpassed 26% in 2019. The export growth of wines is also impressive – 75% for fruit wines and 26% for grape wines. Chocolate is one of the most rapidly developing directions, the export of which rose by 14.2%.

The Minister of Economy also presented other economic indexes, particularly, he noted that construction has grown by 4.6%, services have grown by 15%, tourism gas grown by 15% based on preliminary examinations.

Speaking about the GDP for 2019, the Minister noted that they have not summed it up yet, but according to their assessments, it will exceed the recent forecasts, which means that economic growth of 2019 will be around 8%.

To the question what forecasts he can make for 2020, Minister Khachatryan said, ''I will refrain from making forecasts now, but I will reassure that our Government is committed to do its best in the framework of its economic policy in order we record economic results in 2020 that will be in line with the results of 2019, continuing to secure predictable, stable and equal environment for all participants in economic life”, he said.

Edited and translated by Tigran Sirekanyan