According to him, the pace of economic growth in the country is low. The author stressed that the short-term nature of the high economic growth of Armenia in the previous two years due to foreign factors created by the Russian-Ukraine conflict is already a reality.
Especially since the second quarter of this year, economic activity has begun to decline. Compared to the same period last year, GDP growth was 12.3% in the nine months of 2022, and this figure decreased by 2.8% in 2023.
In October, the increase in the Armenian economic activity index was 17.5% compared to the same month last year, which decreased three times in 2023 and made up 6% in October.
Even in 2023, in the context of GDP's double-digit increase, Armenia's public debt increased by 10.5% compared to the same period last year and amounted to $11.116 billion. In October 2022, compared to the same period last year, the public debt increased by about 10% to $10 billion.
It is noted that in 2022, compared to the previous year, GDP increased by 12.64%.
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