Amulsar operations ‘vital’ for Armenia, says economy minister

YEREVAN, JANUARY 13, ARMENPRESS. The Armenian government’s economic growth target for 2025 is around 5,5% but the figure will be lower if Amulsar Gold Mine remains closed, according to Minister of Economy Gevorg Papoyan.

Asked by Armenpress about the 2024 growth, Papoyan said he expects the figure to be around 5,8%.

The initial projection for 2025 was 5,6% but the finance ministry subsequently lowered it.

“If the Amulsar mine doesn’t operate, then of course, the economic growth will be lower. If Amulsar were to work, we would increase the economic growth not only this year but also the next years. Our GDP will annually grow by an additional 1 percent in case of Amulsar’s full cycle operations. And our state will receive additional 120 million dollars in taxes annually. Many jobs will be opened,” the minister said at a press conference.

Minister Papoyan reiterated that the operations of Amulsar is of vital significance for Armenia.

“Our target for 2025 is to have around 5,5% economic growth,” he added.