ArmInfo. Even with high economic growth rates in January- February 2022, poverty is rapidly spreading in Armenia, and the government needs tremendous efforts to prevent a social disaster, Armenia's Minister of Economy Vahan Kerobyan stated at the panel meeting Central Asia: Area of Technological Breakthrough in Tashkent, Uzbekistan.
The Armenian government is distributing the superprofits from the mining industry to the agricultural sector, along with increasing capital investments in Armenia's regions and in the social, education, science an health sectors. The government's long-term development programmes provides for intensive industrial development until 2030.
"We have attracted numerous new enterprises and are granting preferences, improving the business environment," the minister said.
Last year, Armenia's exports to Uzbekistan totaled $3mln. Imports totaled $10.4mln.
In the first quarter of 2022, Armenia's economic activity showed a 9.6% increase as compared with the first quarter of 2021, against a 2% decline in the first quarter of 2020 and a 6.5% increase in the first quarter of 2019.
