We have seen a remarkable increase in the economic growth rate in 2023, with a rise of 8.7%. This is higher than what was initially declared in the pre-election program in 2021. During the parliamentary hearings on the 2023 state budget, Prime Minister Nikol Pashinyan made mention of this on May 29.

“Yes, our economic growth rate has seen significant improvement in both 2022 and 2023 compared to the pre-election program declaration. Our target was to achieve an average annual economic growth rate of 7%. It is important to highlight that the socio-economic situation in Armenia has improved by over 30% since 2018, which is a significant milestone.

Considering the income of the population, the official statement indicates that the adult poverty rate in Armenia has increased by approximately 37% compared to 2017. Moreover, the increase has been even higher in dollar terms,” expressed the Prime Minister.

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