Friday, August 14 2020 13:48
Alexandr Avanesov

Tigran Khachatryan: The decline in economic activity in Armenia in  2020 will be a little over 5%

 Tigran Khachatryan: The decline in economic activity in Armenia in  2020 will be a little over 5%

ArmInfo.v. It is predicted that the decline in economic activity in Armenia in 2020 will be a little over 5%. RA Minister of Economy Tigran Khachatryan stated this at a press conference in Yerevan on August 14.

According to him, as a rule, 40% of the country's total GDP is  provided in the first half of the year and 60% in the second. In the  first half of the year, the decline in economic activity turned out  to be such that if these data is transferred to GDP indicators, then  in y-o-y terms they will be 2% less than in 2019. If the data for  June are comparable to the data for July, which is not yet available,  then, given some improvement in the country's economy in the coming  months, it is predicted that in the second half of the year, the  country's GDP will fall by 3-4%. In y-o-y terms, this figure will be  within 5%, which is in line with global trends.  Leading world  agencies, Tigran Khachatryan noted, predict that the decline in the  world economy this year will be about 6%.

It should be reminded that according to the data of the National  Statistical Committee, in Armenia, economic activity in the first  half of 2020 decreased by 4.7% per annum, against 6.5% growth a year  earlier. In June of this year versus June 2019, economic activity  decreased by 7.5%, against an increase of 3.4% in June 2019 against  June 2018. In June 2020 alone, economic activity accelerated growth  to 14.8% from 13.3% in May, against a more modest 8.2% growth in June  2019. 

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