Economy Minister attributes Armenia`s economic slowdown to  Statistical Committee`s outdated calculation methodology 

ArmInfo. Minister of Economy Gevorg Papoyan refuses to believe in a slowdown in Armenia's economic growth. Referring to data from the Statistical Committee for  October of this year, he noted that such a slowdown could not have  occurred, as key sectors of the economy have experienced significant  growth.

In an interview with Civil.net, he noted that the reported 4.2%  economic growth by the Statistical Committee is allegedly attributed  to an 8.2% decrease in the agricultural sector, where livestock  farming saw a 0.1% growth, and crop production a 16% decline.  According to the minister, this  data doesn't not reflect the real  picture, as it does not even align with the dynamics of agricultural  exports. At the same time, he disagreed with the interviewer's remark  that the rise in exports was due to re-exports.  Papoyan noted that  over the past 20 years, everything in our country has changed except  for the calculation methodology of the domestic Statistical  Committee. He mentioned that there can be no errors in calculating  data in animal husbandry, as the number of cattle is accurately  recorded and numbered, with a similar process now in place for small  cattle. However, when it comes to plant growing, as the minister  said, the Statistical Committee receives data from regional  administrations through phone calls, which in turn  gather  information  by calling community administrations. The information  collected at the community level is based on everyday conversations  with farmers.

Complaining that statistical data is collected at an amateur level,  Papoyan noted that the only thing that has changed in the department  is the appearance of new computers instead of dusty folders. "And  this is one of our big problems," he said. The head of the department  emphasized that without knowing the real picture in a particular  industry, it is impossible to conduct an effective policy.  The  minister dismissed the possibility of a slowdown in economic growth  rates citing a 19% increase in electricity production, a 5.3%  acceleration in production growth, a 13.7% growth in construction  sector and a 5.2% growth in the service sector.  "Of course, it is  not possible that all sector show growth, including the acceleration  of the industrial sector, a sharp increase in electricity  consumption, a sharp increase in exports, in agricultural products,  and have economic growth of 4.2%," the minister noted.