Prime Minister Nikol Pashinyan made a post on Facebook, and recorded that Armenia continues to be on a path of sustainable economic development.

“According to the results of 2024, the gross domestic product (GDP) of the Republic of Armenia [(RA)] has increased by 5.9% in real terms, compared to the previous year. The key target of an average annual economic growth of 7% for 2021-2026 set by the Government formed following the results of the 2021 snap parliamentary elections has been maintained, averaging 8.15% based on the results of 2021-2024. According to the results of 2023, economic growth of 8.3% in 2020, 12.6% in 2022, 5.8% in 2021was recorded in Armenia..

According to the average annual results of 2024, the number of employees in Armenia amounted to 760,555 people. This indicator is 203,878 people or 36.6% more, compared to the same period of 2018, and 37,882 or 5.2% more, compared the same period of 2023.

According to the results of 2024, the annual average monthly nominal salary [in Armenia] amounted to 287,172 RA drams, increasing by 114,445 RA drams or 66.3%, compared to 2018, and by 17,178 RA drams or 6.4%, compared to 2023.

According to the results of 2024, year-end inflation [in Armenia] amounted to 1.5%, and cumulative inflation for 2018-2024 amounted to 25.3%. Thus, the real growth of wages in [the country] 2018-2024 amounted to about 40%.

Thus, Armenia continues to be on the path of stable economic development. The cumulative GDP growth in 2018-2024 in real terms amounted to 43.5%; that is, by the results of 2024, the RA economy is 43.5% larger than at the beginning of 2018,” the PM wrote.