Armenia has become much safer and convenient country for investments – minister

YEREVAN, SEPTEMBER 19, ARMENPRESS. Economy Minister Gevorg Papoyan has said that the economic growth in Armenia in the first half of the year comprised 6,5 percent and that the GDP will grow 50% in five years and double in ten years. 

“In 2022 Armenia recorded 12,6 percent economic growth, and 8,3 percent in 2023, becoming the 4th country in the world in terms of economic growth pace, and first in Europe,” he said at the Global Armenian Summit. 

“This year, our economic growth is 6,5 percent in the first half of the year,” he added, noting that the government has vowed to secure 7 percent economic growth on an average annually, which means that after five years the GDP will increase 50% and then double in ten years. He said the government will ensure higher economic growth than projected. 

Papoyan said the Armenian government has dozens of economic support programs for investors. 

“In terms of the investments environment Armenia has become much more attractive and convenient, investments are also much safer in Armenia,” he said.