YEREVAN. – At its Cabinet meeting on Thursday, the government approved the 2018 State Budget performance report, and it was submitted to the National Assembly of Armenia.

“If we avoid using the word ‘revolution,’ there were extremely significant events [in Armenia last year] from the point of view of the economy,” Finance Minister Atom Janjughazyan noted, in particular, in connection with this report.

And Prime Minister Nikol Pashinyan reacted. “Why do you avoid the word ‘revolution?’” he asked the minister.

But Janjughazyan continued. “It was projected that the GDP would grow by 4.9%,” he said. “Even if there were a drop, it would have been a normal phenomenon—taking into account the changes that took place [in the country] in 2018. But a 5.2% growth was recorded.”

Also, the finance minister informed that the largest part in this growth was the service sector.

“In 2018, the taxes/GDP ratio was 21%,” Atom Janjughazyan added.