Armenia Outpaces EAEU Partners: 'Zhoghovurd'

The newspaper 'Zhoghovurd' reports that the final report on the execution of the 2019 state budget has been compiled and sent to the National Assembly. According to this report, the real GDP growth in the Republic of Armenia was recorded at 7.6% in 2019, exceeding the planned figure for the state budget by 2.7 percentage points.

In terms of economic growth for 2019, Armenia stands out among its EAEU partner countries, as well as Georgia and Azerbaijan. Specifically, with a real GDP growth of 7.6% in Armenia, the Russian Federation recorded a 1.3% real growth, the Republic of Belarus 1.2%, Kazakhstan 4.5%, Kyrgyzstan 4.5%, Azerbaijan 2.3%, and Georgia 5.1%.

External trade turnover in 2019 amounted to 8,154.1 million USD, which represents a 10.6% increase compared to 2018. The average inflation rate for 2019 was reported at 1.4%, compared to the planned 3.5%, with inflation at the end of the period in 2019 standing at 0.7%. This indicates that the year 2019 was successfully completed by the Armenian government.

Moreover, it should be noted that this is the only year in which the government led by Prime Minister Nikol Pashinyan has operated in full.

For further details, see today’s issue of the newspaper.