ArmInfo. Labor productivity in Armenia (the amount of GDP generated by each worker for one hour of work) is lower than the EAEU average, amounting to only $6.5 per hour.
Armenian Minister of Economy Vahan Kerobyan stated this in an interview on January 18. He also indicated that labor productivity in the country is more than 6 times lower than that registered in the Organisation for Economic Co-operation and Development (OECD; French: Organisation de Cooperation et de Developpement Economiques, OCDE), where on average this indicator is registered at $45.6.
However, the optimistic Minister noted that the index registered in Armenia has the potential for growth. "Diagnosis shows that even with a small investment, labor productivity can be sharply increased," he said, prioritizing the development of digitalization of processes and the modernization of fixed assets. In particular, he recalled the government's modified anti-crisis program, which will provide economic entities with appropriate opportunities.
