Economic activity in Armenia in the first quarter of 2022, compared to the same period of 2021, increased by 9.6%, the press service of the State Committee of the Republic of Armenia informed NEWS.am.

According to preliminary data, only the agricultural sector was in decline. At the same time, other sectors showed growth. Thus, in January-March 2022, the decline in the agro-industrial complex was 5.4%. And it is in the case, when the state has spent billions of drams for the realization of agricultural programs.

These indicators once again demonstrated and proved the low efficiency of the programs on subsidizing agricultural loans. Agriculture is of strategic importance for any country as it solves a number of issues related to food security and employment. The agricultural sector accounts for 11.1% of Armenia's gross domestic product. Moreover, almost every third worker is employed in this sector.

According to official data, food prices will continue to rise this year, as local agricultural production is still declining.