Time in Yerevan: 11:07,   30 May 2024

Armenia’s economy is booming today, PM says

Armenia’s economy is booming today, PM says

YEREVAN, NOVEMBER 2, ARMENPRESS. The current economic growth rate in Armenia allows to consider as resolved the economic difficulties caused by the pandemic and the war and to restore the economic development pace, Prime Minister Nikol Pashinyan said during the debate of the 2023 state budget draft in the joint session of parliamentary standing committees.

“Today, the economy of Armenia in fact is booming. According to the data of January-September, the economic activity index comprised 14.1%. This is a highly important indicator. It’s important to note that this rate gives us an opportunity to consider, in fact, the economic difficulties resulting from the pandemic and the war in 2020 as overcome and to restore our economic development pace, which is highly important. In other words, this year we have an opportunity in terms of economy and will use that opportunity to return to the pace of 2019”, the PM stated.

He highlighted appreciating this economic dynamics. The PM assured that in 2018 the government’s approach to the economy was the following that the government must interfere in the economic relations as little as possible, should be more concerned with creating economic opportunities and overcoming the economic problems.

“In this respect I think that today we are collecting the fruits in some sense thanks to our policy of eliminating monopolies, oligarchy, our policy of ensuring that everyone is equal before the law and overcoming the systematic corruption”, he said, adding that this was the action set by the government.

He said that they put these political pillars on the basis of the economic growth.

Pashinyan also said that a very important event took place this year in terms of Armenia’s economic image. Armenia has been ranked 11th among 100 countries in the Economic Freedom Index.


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