ArmInfo. Despite difficult challenges, Armenia continues to be in a zone of high economic growth, RA Prime Minister Nikol Pashinyan said on October 17 at a plenary session of the European Parliament in Strasbourg.
Pashinyan noted that after the Velvet Revolution of 2018, tax revenues to the RA budget increased by 70 percent.
According to him, the measures taken allow the government, for example, to allocate 100 million dollars to solve the urgent problems of more than 100 thousand forcibly displaced persons from Nagorno Karabakh. At the same time, as the Prime Minister pointed out, RA needs international support, including budgetary assistance, to fully resolve all problems.
According to statistical data, the growth of economic activity in Armenia in January-August 2023 slowed down to 10.4% per annum (from 13.9% a year earlier), accompanied by a noticeable slowdown in the upward dynamics of exports and imports. Against this background, Armenia's foreign trade turnover in January-August 2023 amounted to 4.7 trillion drams ($12 billion) with a slowdown in y-o-y growth to 53% (from 56.2% a year earlier). This is due to some slowdown in y-o-y growth of both exports - from 52.9% to 51.8%, and imports - from 58.2% to 53.8%, the absolute value of which exceeded 1.7 trillion and 2.9 trillion drams ($4.5 billion and $7.5 billion).
