President of Armenia Vahagn Khachaturyan stated that the South Caucasus can only develop with consideration of the interests of all countries in the region.
He made this statement while speaking at a session dedicated to the investment opportunities of the country, held in Yerevan as part of the annual meeting of the European Bank for Reconstruction and Development (EBRD) on May 15.
He emphasized that only with the participation of all regional states and the combination of their vital interests, conditions can be created for sustainable development in the South Caucasus.
Khachaturyan also noted that the Armenian government has directed its efforts towards the development of the region through the "Crossroads of Peace" project, aimed at unlocking and activating economic ties with regional and non-regional states.
According to him, Armenia has seen high economic growth in recent years, averaging 9% annually.
"Of course, favorable external factors such as the influx of foreign labor and decreasing global prices have influenced this growth. Experts unanimously acknowledge that the government's measures to increase productivity and establish new productions that produce technologically advanced products have also played a significant role," said the President of Armenia.
Khachatryan highlighted that not all external processes in the region and the world have been favorable, but as he observed, Armenia has managed to maintain stability in its economy.
Earlier, BMG reported that Armenia's economic growth in the state budget for 2024 is envisaged at 7%, with inflation set at 4% (±1.5%).
According to data from the Statistical Committee, economic activity in Armenia grew by 15.3% in March 2024. Overall, for the first quarter of 2024, this indicator amounted to 14.3%.
