YEREVAN. – Armenia is not registering a wave of small business bankruptcy as it used to during the previous years, economist Vilen Khachatryan said.

“During previous years, you could notice the trend, but it has now leveled off to some extent. Armenia has registered approximately equal numbers of opening and closing companies,” he told reporters on Monday. 

In 2013 the number of small stores decreased dramatically, the expert said. By the end of 2012, there were about 19,000 stores, and only around 17,100  in 2013.

However, the volume of production of small and medium-sized businesses increased almost by 13 percent, a faster pace compared with inflation that made 5.8 percent in 2013.