Pashinyan administration committed to ensuring 7% economic growth also next year

YEREVAN, OCTOBER 27, ARMENPRESS. Prime Minister Nikol Pashinyan described the current economic situation in Armenia as “good”.

“In September of 2022 we recorded 14,6% economic activity index, and a year-on-year 14,1% growth in January-September of 2022. Industrial output grew 10%, construction grew 14,3%, trade turnover grew 14,5%, services grew 27,1%, electric-energy production grew 16,9%. Exports grew 63,8%, imports grew 61,6%,” the Prime Minister said, adding that agriculture is the only branch where a decline was recorded.

Pashinyan added that if the optimistic projections become reality, then it will turn out that averagely the 7% pace of growth has been maintained in 2019, 2020, 2021 and 2022.

“This year’s high economic growth brings certain risks for us, next year we must ensure 7% growth again on this high pace, this is our commitment. Once again I want to draw your attention on efficient state spending, which will have crucial significance together with other factors on the economic growth,” the PM told Cabinet members.