ArmInfo.The Armenian economy feels stable. This opinion was expressed by RA Minister of Economy Vahan Kerobyan in an interview with the First TV channel.
In this regard, he noted that economic activity for the first 4 months turned out to be higher than planned, in addition, it exceeded the pessimistic forecasts of international organizations.
Kerobyan also recalled the growth of GDP in the first quarter by 8.6% per annum, which, according to him, is a fairly high figure. In this regard, he noted that the service sector, which is a driver of growth, has increased its volumes not only through domestic consumption, but also through tourism, in particular, thanks to foreign citizens who moved to Armenia. At the same time, he pointed to high growth rates in the manufacturing industry, the construction sector, exports and imports. At the same time, the official indicated that the existing economic growth is real, not nominal.
"This growth is already adjusted for inflation," he said. It should be noted that according to statistical data in Armenia, economic activity in January-April 2022 increased by 9.4% per annum, against the backdrop of an increase in exports and imports by 25.2% and 39.1%, respectively. It is noteworthy that the current growth in economic activity turned out to be higher than the rates of the pre-Covid similar period. In terms of industry, in January-April 2022, growth was registered in all sectors, with the service sector and the energy complex being more noticeable, while a year ago the service sector was in decline. In April 2022 versus April 2021, economic activity increased by 8.8% (against 23.2% growth in April 2021 versus April 2020). Growth was observed in all sectors: the service sector - 27.1%, construction - 15.6%, trade - 8.6%, energy complex - 5.8%, and the industrial sector - 1.2%. The price index of industrial products increased in January-April 2022 compared to the same period in 2021 by 10.8%, in April 2022 compared to April 2021 - by 9.4%. It should be reminded that Hayk Chobanyan, Executive Director of the Union of Advanced Technology Enterprises (UATE), noted earlier that according to the latest data, because of the Russian-Ukrainian conflict about 70,000 people moved to live in Armenia.
