Araik Harutyunyan: The annual economic growth of Artsakh over the past 10 years has averaged about 10%

ArmInfo. The annual economic  growth of the Republic of Artsakh for the last 10 years has averaged  about 10%. The state minister of Artsakh Araik Harutyunyan stated  this at a meeting with students and teachers of economic universities  of the country on December 28.

As the head of government pointed out, in one decade the nominal GDP  of the country increased from AMD 70 billion to AMD 270 billion,  providing a 3.8-fold increase. In particular, the volume of  industrial output in 2016 as compared to 2007 (22 billion AMD)  increased 2.7-fold to 59 billion AMD. The growth of the indicator for  the 9 months of 2017 compared to the same period of the previous year  was 57%.

For 2007-2017, the growth rate of the average monthly nominal salary  was 2.2 times - from 68.610 AMD to 153.168 AMD, the average monthly  pension growth was about 2.2 times - from 19.470 AMD to 43.273 drams.  Expenditures from the budget from 30.8 billion drams increased to  94.4 billion AMD.  The agriculture sphere  has also grown. Within 10  years the amount of cultivated land increased by 40%, the production  of grain crops increased by more than 3 times - up to 160 thousand  tons. During the reporting period, Artsakh increased electricity  generation by 3.8 times. According to the results of this year, the  figure is expected to be about 350 million kW / h.   -nu- Artsakh  recorded progress in demography as well - if in 2002-2007, In the  republic about 2,100 children were born every year, then in 2007-2017  - about 2,600 children.