In 2024, Armenia's economy grew by 8.7 percent, reaching a growth of 29.5 percent over the past three years. This was announced by the Deputy Chairman of the Standing Committee on Economic Affairs, Babken Tunyan, emphasizing significant economic growth in the country.
According to him, the average annual growth was 9.8 percent, exceeding the set goals.
Tunyan noted positive trends in various sectors of the economy, except for a slight decline in agriculture. He also emphasized that some indicators may be incomplete due to a lack of statistical data.
According to him, inflation in December 2023 was 0.6 percent compared to the previous year, with the average annual inflation at 2 percent. The average salary in the country increased by 14.6 percent, and there was also a progressive growth in exports and an increase in the number of tourists visiting Armenia in 2023.
Labor productivity has increased by 1.5 times over the past three years, but the unemployment rate reached 12 percent. The debt-to-GDP ratio was 48 percent at the end of last year, and the execution of the capital expenditure plan was about 96 percent.
