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YEREVAN. – Around 400-500 experienced IT specialists emigrate from Armenia each year and this number increases on a yearly basis, 168 Zham daily writes, citing Executive Director Karen Vardanyan of the Union of Information Technology Enterprises. 

‘“But the reasons are not solely financial, but also because there is a lack of growth,’ he noted, adding that competition is needed to exclude the sector’s stagnation.    

To note, for years the IT sector is declared a major branch of the economy in Armenia, and, according to official statistics, it has always secured an impressive double-digit growth in the most recent years,” 168 Zham writes.

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