Time in Yerevan: 11:07:36,   6 July

Industry, services main contributor sectors to Armenia’s 2019 economic growth

Industry, services main contributor sectors to Armenia’s 2019 economic growth

YEREVAN, JUNE 5, ARMENPRESS. The services branch and industry mainly contributed to the 7.6% economic growth registered in Armenia in 2019, Finance Minister Atom Janjughazyan said at the joint session of the parliamentary standing committees, discussing the report of the 2019 state budget performance.

“The field of services and industry were the main contributor branches to the 2019 economic growth. The population’s income also grew, the crediting volumes have increased. The increase of the external demand for some external industrial types also led to this growth”, the minister said.

The average inflation in 2019 comprised 1.4%. The prices of non-food products have increased by 1.5%. The price increase of food and non-alcoholic drinks comprised 1.9%.

The average monthly salary comprised 182 thousand 673 drams in 2019. Moreover, the salary at the public sector remains lower than that in the private sector. The average wage in the public sector is nearly 162,000 drams, whereas in the private sector it is nearly 193,000 drams. The employment rate grew by 4.3% in the reporting year.

Reporting by Anna Grigoryan; Editing and Translating by Aneta Harutyunyan





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