At the end of the year, Armenia's economy can grow by more than 7 percent. Political scientist Aram Safaryan, coordinator of the Eurasian Expert Club, told this to a press conference Tuesday.

According to him, the time has come to reduce unemployment in Armenia with major programs, and to help low-paid workers improve their situation.

"We believe that unless there is an unexpected force majeure, this year will close with impressive economic growth and strong gross domestic product growth [in Armenia]," he said.

As per Safaryan, Armenia's economy is recording an impressive growth of recovery after the coronavirus pandemic. He recalled that in the first half of the year, the growth of economic activity in the country was 11.4%, and trade (23.6%), construction (17%) and the service sector (16.8%) registered rapid development.

"According to the results of the first half of the year, the EAEU [(Eurasian Economic Union)] leads the list of Armenia's foreign trade partners. Already 53.6% of Armenia's exports go to the [other] EAEU [member countries’] direction. Russia continues to be the main export market for Armenian products; the most diversified product flow goes in this direction," the expert noted.

He explained that if before mainly Armenian brandy was exported the other EAEU member countries, now smartphones, cars, medical devices, and radio equipment are exported in this direction.

The political scientist emphasized that the export of the above-mentioned and a number of other products has increased ten times in recent years, which plays a very important role in ensuring double-digit economic growth in Armenia.

"Since most of the above-mentioned products are re-exported, the country's government should take advantage of the favorable situation and take serious steps for the qualitative development of national industry and industrial cooperation in the EAEU. The continued growth of trade and economic cooperation with Russia, which is also manifested by the sharp increase in the flow of Russian tourists in and the participation of Russian resettlers in the socioeconomic life of Armenia, forces to think about the continued development of Armenian-Russian political ties," added Aram Safaryan.