In an interview with Armenian Public Television, Minister of Economy Gevorg Papoyan discussed the key directions of the government's economic policy. According to the minister, the primary focus is on producing finished goods domestically rather than semi-finished products.
Speaking about agriculture, Papoyan emphasized the importance of developing smart livestock farming, establishing modern slaughterhouses, and promoting intensive horticulture. The goal is to increase productivity; for instance, the plan includes raising cow milk yields to 20-30 liters, as in developed countries. Various leasing programs are being implemented to support farmers.
The construction sector saw a 7% decline in the first half of 2024. Despite this, the minister expects that tax revenues from real estate will remain significant. He also noted that construction activities will increasingly shift to the country's regions.
Regarding the IT sector, a 14% decline was recorded in the first quarter of 2024. The Ministry of Economy is working on a new government program that will provide tax incentives for IT companies. Special attention will be given to supporting research and development in this field.
