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October 15
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YEREVAN. – In terms  of the 2018 budget, I consider it unprecedented in the entire history of the world, and I doubt very much what took place in Armenia would have taken place in any other country. Prime Minister Nikol Pashinyan on Thursday noted this at the National Assembly, and as a result of the latter’s debates on the 2018 State Budget execution report.

He recalled that a presidential election, five elections of the Prime Minister, a snap parliamentary election, an early election of the capital city Yerevan Council of the Elders, snap elections in several cities, and, ultimately, a “velvet revolution” took place in Armenia in 2018.

“And what do we have by the results of this year, in macroeconomic terms?” Pashinyan asked and responded himself. “A 5.2% economic growth was recorded in the case when the government, adopting the draft budget, had projected a 4.5% growth; that is, the government doesn’t have any unfulfilled obligations in 2018.

“Macroeconomic stability has been maintained in full, and in this regard we can say that the government has done its job brilliantly, since, in the context of all these political upheavals, it has fully ensured a normal life in the country.”

The PM touched also upon this year’s indicators, and stated that in the first quarter of 2019, a 7.1% economic growth was recorded, which is the highest rate in the Eurasian Economic Union (EAEU) expanse—which also comprises Russia, Belarus, Kazakhstan, and Kyrgyzstan. In April, a 9.2% growth in the economic activity index was recorded, which is also the highest figure in the EAEU. According to him, the state budget revenues were exceeded by at least 62 billion drams.

“If we consider that the government was at least in crisis management mode in 2018, this issue was resolved with exceptional success,” Nikol Pashinyan said. “I doubt very much that there is any country in the world where a revolution would take place and macroeconomic stability would be maintained and the economy would not be in a recession—at least for a long time.”

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