Wednesday, May 15 2024 19:08
Alexandr Avanesov

Pashinyan: all those who have the necessary skills, abilities and  desire can make a profit in Armenia

Pashinyan: all those who have the necessary skills, abilities and  desire can make a profit in Armenia

ArmInfo. In recent years, the economy of the Republic of Armenia has recorded  a great growth. Since the non-violent Velvet Revolution of 2018, the Armenian economy has grown by almost 30%, state budget revenues have increased by more than 91%, and about 200 thousand jobs have been opened, which means an increase in the total number of jobs by about 37%.

Prime Minister  of the Republic of Armenia Nikol Pashinyan stated  on May 15,  speaking at the Annual Meeting of the European Bank for  Reconstruction and Development.

According to him, the average nominal wage has increased by about 87%  compared to 2017, and GDP per capita has almost doubled. "And keep in  mind that during this time we also experienced the coronavirus  epidemic, a 44-day war, a humanitarian crisis and the deportation of  more than 100 thousand Armenians from Nagorno-Karabakh, the  occupation of more than 200 square kilometers of the sovereign  territories of the Republic of Armenia, internal political and  regional escalation. But thanks to reforms, we were able to cope with  all the problems mentioned. I must, however, note that high economic  indicators were recorded precisely thanks to the changes that the  non-violent, velvet revolution of 2018 brought and the government's  adherence to the course of popular reforms. It was after the  revolution that all businessmen in Armenia got the opportunity to  conduct economic activities freely and without restrictions. Prior to  this, the most profitable sectors of the economy in the Republic of  Armenia were actually subject to shadow quotas; the import and export  of many products was impossible without the permission of the  political authorities.  Since 2018, these phenomena have been  eradicated in Armenia, and now in our country all those people who  have the necessary skills, abilities and desire can make a profit. It  is thanks to these people that the economy has developed, state  budget revenues have increased, and these people are the locomotive  of the development of our country," Pashinyan said.

He noted that economic growth is influenced by various factors. "But  in Armenia, by and large, the rate of economic growth is directly  proportional to the progress of democratic reforms. We have  significantly reduced the shadow, we are tirelessly fighting  corruption. In Transparency International's Global Corruption  Perceptions Index, the Republic of Armenia has risen by 45 points  since 2018, rising from 107th places at 62nd. As a result of all  these measures, the potential of the Armenian economy has increased  significantly, and the realization of this potential is a new  challenge for our country, since its proper implementation is of  paramount importance from the point of view of the future development  of Armenia. To solve this problem, we set three key tasks: reforms in  the education sector, development of institutional capacities,  implementation of the peace agenda.  He, in particular, noted that in  the field of education, Armenia is at the most active stage of  improving the content and physical infrastructure. "We have adopted  new standards for preschool education and general education, and have  begun certification of teachers, one of the key goals of which is to  double teachers' salaries by checking their qualifications. Also, in  order to ensure accessibility of education throughout the republic,  we have undertaken the construction of 500 kindergartens and 300  schools, and by the way, in the implementation of this project we  often feel gaps in the education sector. In any case, the fact is  that compared to 2017, the budgetary funding of the education sector  has more than doubled in 2024, or more precisely, increased by 119%.  Funding for science has increased by 147% compared to 2017, and even  here, the processes of sometimes tripling scientists' salaries are  underway. In this context, we attach particular importance to reforms  in vocational education and training, as well as higher education. We  are in the active stage of discussing the Academic City construction  project. The idea is to build an academic city from scratch, which  will concentrate the country's university and IT center, and will  also become a favorite place for intellectual entertainment. I would  like to draw the attention of investors to this project, the  preparation of a master plan for which will be completed in the near  future. Reforms in the field of education are key for us, since a new  quality of education is necessary from the point of view of ensuring  the further progress of our country. Education is also a tool for  democracy, anti-corruption practices and institutional capacity  building. After all, the work on all these agendas is done by people,  and the more highly qualified specialists there are, the easier it is  to implement any, even the most ambitious projects.  But the idea is  not only that the next generation will have a much higher level of  education and will be more competitive in the global and local labor  market and thus make our economy more competitive. The problem is  that during the reform of the education sector, we also learn, and in  general, our strategic concept of the education sector is to make  education a lifelong process and a state ideology. As I have already  said, on the way to implementing the reform and development program,  we very often feel gaps in our education system, in our established  attitude towards education, both in the public and private sectors,"  the Prime Minister noted.

Pashinyan emphasized that the private sector in Armenia today also  needs highly qualified specialists, and this is often necessary to  reduce production costs, enter new markets, and develop production  and work standards. "Of course, the government implements programs  aimed at all this, but also our abilities to implement and improve  these programs need to be developed. And development is not possible  without education, without learning.No creative change is possible  without learning," said the head of the Armenian Cabinet.

POST A COMMENT
Input digits     


News
EBRD appoints new Managing Director for Turkiye and the CaucasusEBRD appoints new Managing Director for Turkiye and the Caucasus
From January 1, 2026, medical insurance will become mandatory for   tourists  arriving in GeorgiaFrom January 1, 2026, medical insurance will become mandatory for   tourists  arriving in Georgia
IDBank issues the 3rd tranche of dollar bonds of 2024IDBank issues the 3rd tranche of dollar bonds of 2024
So that old age can be a joy! Present and future of funded pension  reform in ArmeniaSo that old age can be a joy! Present and future of funded pension  reform in Armenia
Premier: Armenia increases its level of sovereignty and independence  every dayPremier: Armenia increases its level of sovereignty and independence  every day
EventHub.am is the official ticketing agent for the concert of the world renowned Black Eyed Peas in TbilisiEventHub.am is the official ticketing agent for the concert of the world renowned Black Eyed Peas in Tbilisi
National Geographic recommends visiting Armenia as an attractive  tourist destinationNational Geographic recommends visiting Armenia as an attractive  tourist destination
Pashinyan: program for providing housing to forcibly displaced  persons from Nagorno-Karabakh is entering practical stage of  implementationPashinyan: program for providing housing to forcibly displaced  persons from Nagorno-Karabakh is entering practical stage of  implementation
Projects implemented jointly with Rosatom State Corporation discussed  in ArmeniaProjects implemented jointly with Rosatom State Corporation discussed  in Armenia
Assessing long-term impact of new US sanctions against Russia will  take time - Central Bank GovernorAssessing long-term impact of new US sanctions against Russia will  take time - Central Bank Governor
Martin Galstyan: Azerbaijan is not among top 50 remittance  destinationsMartin Galstyan: Azerbaijan is not among top 50 remittance  destinations
Armenian Parliament approves report on  Execution of State Budget for  2023Armenian Parliament approves report on  Execution of State Budget for  2023
Fly Arna staff demand salariesFly Arna staff demand salaries
Pashinyan: Work has begun on developing program to address priority  issues for restoring disaster zone Pashinyan: Work has begun on developing program to address priority  issues for restoring disaster zone 
Instant money transfers from Russia to Armenia with the “ФОРА-БАНК” appInstant money transfers from Russia to Armenia with the “ФОРА-БАНК” app
Since 2017, National Foundation for Servicemen Insurance has paid  monetary compensation to families of 5,345 dead, missing servicemenSince 2017, National Foundation for Servicemen Insurance has paid  monetary compensation to families of 5,345 dead, missing servicemen
Armenia`s CB revises GDP growth forecast for 2024 upward Armenia`s CB revises GDP growth forecast for 2024 upward 
Economic entities must not get accustomed to Economic entities must not get accustomed to "cottonwood existence" -  minister
State budget both financial and political document - minister State budget both financial and political document - minister 
Premier was presented with draft strategic employment programPremier was presented with draft strategic employment program
WB does not change previous improved forecast for Armenia`s GDP  growth of 5.5% in 2024 and 4.9% in 2025 WB does not change previous improved forecast for Armenia`s GDP  growth of 5.5% in 2024 and 4.9% in 2025 
Martin Galstyan: Under favorable conditions, loan interest rates may  dropMartin Galstyan: Under favorable conditions, loan interest rates may  drop
CBA: GDP above-potential growth and its non-widespread nature poses  uncertainties regarding relative position of aggregate demand versus  aggregate supplyCBA: GDP above-potential growth and its non-widespread nature poses  uncertainties regarding relative position of aggregate demand versus  aggregate supply
Central Bank Governor: Inflation in Armenia to approach 2.2%-2.5% by  end of yearCentral Bank Governor: Inflation in Armenia to approach 2.2%-2.5% by  end of year
Armenia`s Central Bank expects additional incentives after Government  increases spending on eliminating consequences of disaster Armenia`s Central Bank expects additional incentives after Government  increases spending on eliminating consequences of disaster 
idcoin: New tool in IDBank’s loyalty systemidcoin: New tool in IDBank’s loyalty system
Armenia`s Central Bank continues reducing refinancing rate Armenia`s Central Bank continues reducing refinancing rate 
Income tax on mortgage loans to be abolished in 2029 Income tax on mortgage loans to be abolished in 2029 
About 173 Million Drams and More Than 30 Beneficiary Funds. About 173 Million Drams and More Than 30 Beneficiary Funds. "The Power of One Dram" is 4 Years Old
Armenia to participate in Food Africa-2024 exhibition Armenia to participate in Food Africa-2024 exhibition
EasyPay Supports Launch of “Financial Literacy” Program by Armenian Code Academy and Technological Education Foundation EasyPay Supports Launch of “Financial Literacy” Program by Armenian Code Academy and Technological Education Foundation 
 Team promotes business education: CaseKey Academy opened Team promotes business education: CaseKey Academy opened
Armenian-Indian business forum held in YerevanArmenian-Indian business forum held in Yerevan
Armenia elected UN Economic and Social Council Member for 2025-2027Armenia elected UN Economic and Social Council Member for 2025-2027
Central Bank identifies two main risks threatening Armenia`s  financial stabilityCentral Bank identifies two main risks threatening Armenia`s  financial stability
Armswissbank issues 3 bonds from the 10th of juneArmswissbank issues 3 bonds from the 10th of june
The Power of One Dram to The Road of Life: July`s Beneficiary is Strong MindThe Power of One Dram to The Road of Life: July`s Beneficiary is Strong Mind
Recent floods in Armenia confirm need to ensure food security -  statementRecent floods in Armenia confirm need to ensure food security -  statement
AraratBank places dollar bondsAraratBank places dollar bonds
Russia making efforts to resume launch of Mir cards in Armenia,  Kyrgyzstan Russia making efforts to resume launch of Mir cards in Armenia,  Kyrgyzstan 
Deputy Minister of Finance: Export of goods of Armenian origin  decreased by 14.3% in Q1 2024Deputy Minister of Finance: Export of goods of Armenian origin  decreased by 14.3% in Q1 2024
OVIO modernizes its sales and service centers in Kapan, Kajaran and  GyumriOVIO modernizes its sales and service centers in Kapan, Kajaran and  Gyumri
EU to allocate EUR11 million for next 5 years to implement R2D Syunik  projectEU to allocate EUR11 million for next 5 years to implement R2D Syunik  project
New sports complex to be constructed in KapanNew sports complex to be constructed in Kapan
Higher-rate economic activity growth in Armenia Higher-rate economic activity growth in Armenia 
 Armenia`s regional administration to receive AMD 2.5bln for  subvention programmes  Armenia`s regional administration to receive AMD 2.5bln for  subvention programmes 
Turnover tax forming unhealthy economic environment should be  abolished - premier Turnover tax forming unhealthy economic environment should be  abolished - premier 
Armenia is especially loved by tourists from Russia, Georgia, Iran,  the USA, Germany, France, Ukraine, China and BelarusArmenia is especially loved by tourists from Russia, Georgia, Iran,  the USA, Germany, France, Ukraine, China and Belarus
CBA CBA "accuses" bank clients of "illogical behavior"
Sanosyan: some problems arose during implementation of first landfill  construction projectSanosyan: some problems arose during implementation of first landfill  construction project
Russian Digital Attache in Armenia: Russia`s experience in building  underwater fiber-optic link may be relevant, including for ArmeniaRussian Digital Attache in Armenia: Russia`s experience in building  underwater fiber-optic link may be relevant, including for Armenia
YOY inflation in Armenia decreased from 1.3% to 0.3% in May, due to  cheaper food productsYOY inflation in Armenia decreased from 1.3% to 0.3% in May, due to  cheaper food products
Agriculture is becoming labor reservoir for more efficient service  industry - expertAgriculture is becoming labor reservoir for more efficient service  industry - expert
Part of main gas pipeline supplying Armenia with Russian gas will  come under Azerbaijani control - political scientistPart of main gas pipeline supplying Armenia with Russian gas will  come under Azerbaijani control - political scientist
EU allocated EUR 2.9 million to Armenia for rebranding of Armenian  brandyEU allocated EUR 2.9 million to Armenia for rebranding of Armenian  brandy
Use of electric cars and solar energy will limit Armenia`s dependence  on oil and gas marketsUse of electric cars and solar energy will limit Armenia`s dependence  on oil and gas markets
Armenian MFA: decision on Armenia`s participation in Chabahar port  project to be made within few monthsArmenian MFA: decision on Armenia`s participation in Chabahar port  project to be made within few months
Papoyan: export development strategy is almost readyPapoyan: export development strategy is almost ready
North-South`s construction odyssey: Only 10% of road has been  completed in 12 yearsNorth-South`s construction odyssey: Only 10% of road has been  completed in 12 years
Formation of common energy markets major factor of EAEU development -  Armenian vice-premier Formation of common energy markets major factor of EAEU development -  Armenian vice-premier 
Read more
Exchange rates
17.06.2024
RUB4.37-0.03
USD388.780.29
EUR416.420.85
GBP492.55-1.03
CAD282.980.65
JPY24.66-0.08
CNY53.580.04
CHF435.850.96