15:48, 19 May 2023
YEREVAN, MAY 19, ARMENPRESS. The Armenian economy boomed over the last year and secured 12,6% growth, becoming one of the fastest growing economies in the world, Minister of Economy Vahan Kerobyan said at the Yerevan Tech Forum.
“This year’s Q1 was as dynamic as last year. We ensured 12,2% growth in Q1 this year,” he said.
“For the first time in our history we ensured 1 billion dollars in foreign direct investments, which comprises over 5% of our GDP, and according to preliminary information the total investments stand at 4,2 billion dollars, which is an impressive result. These investments will allow us to have high economic growth in the next years as well,” he added.
The tech and finance sectors, which grew 50%, were the main contributors in the growth.
Trade, services, process manufacturing and construction also contributed to the growth.
Only the mining sector hasn’t recorded growth, “but that’s not too bad, because we must change our economic structure, from mining to high tech.”
