ArmInfo.Per capita gross domestic product (GDP) is expected to exceed $8,000 this year - twice as much as last year, Armenia's Minister of Economy Vahan Kerobyan told a briefing following the Cabinet meeting on August 24.
"Armenia is country at a different development level now, and instruments of government support are upgraded accordingly," the minister said.
In this context, he said that the government approved a programme of large-scale support for investors, which will allow the government-set targets to be reached.
"I should say we are progressing well, and the indicators recorded in the first half of this year are evidence thereof. We are nearing our goal," Mr Kerobyan said.
In the first half of 2023, the per capita GDP gradually grew from AMD 600,249 ($1,529) in the first quarter to AMD 716,830 ($1,852) in the 2nd quarter. Last year, the per capita GDP in the first quarter was AMD 501,303 ($1,031) and AMD 641,105 ($1,424) in the 2nd quarter. The growing per capita GDP was accompanied by Armenia's growing population - up to 2.985mln by July 1, 2023, (an annual growth of 23,200 people). In the corresponding period of last year, the growing per capita GDP was accompanied by a population decline - down to 2,700,000 people.
Net foreign investments in Armenia's real economy totaled AMD 29.6bln ($76.2mln) in the first quarter of 2023, a 10% annual growth.
Net direct foreign investments totaled AMD 33.4bln ($85.8mln) - a 48.7% increase.
The AMD/USD exchange rate was AMD 388.48/$1 on March 31, 2023.
