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The Prime Minister of Armenia, Nikol Pashinyan, on Monday commenced his big press conference in Vanadzor by announcing the 100 new facts recorded by the government.

In his words, the real GDP growth in the country amounted to 6.8%, industry grew 8.4%, construction 4.5%, trade 8.9%, services 15.2%, and average salaries 5.9% in the first seven months of this year, as compared with the previous year.

“In first half of year, tax revenues have recorded an unprecedented 25% growth,” he added. “More than 65,000 new jobs have emerged since May 2018 to this day. (…). The average salary of those who earn between AMD 150,000 and AMD 2 million is AMD 400,000. They have paid more than AMD 6 billion in additional taxes.

“In the [first] six months of 2019, AMD 511 billion in tax payments have been generated to the [state] budget by the 1,000 largest taxpayers. In 2018, that indicator was AMD 446 billion; an increase of 14%.”

“As of July, the number of active taxpayers of the Republic of Armenia has increased by over 24 thousand; the growth is 14.4%.

“Moody’s International ratings agency has increased Armenia’s sovereign rating from B3 to Ba3. Moody’s has noted that Armenia’s GDP growth will remain high in the medium term.

“During the [first] six months of this year, the number of tourists arriving [in Armenia] from other countries has recorded an impressive growth (…). Overall, the growth was 12.8%. According to the CB [the Central Bank of Armenia], tourists have already spent $200 million more in Armenia than in the eight months last year.

“The World Economic Forum has issued the 2019 Tourism Competitiveness Report, where Armenia has recorded a 5-point progress and is in 79th place.

“As a results of the [first] seven months of this year, we have succeeded in surmounting the drop in exports and recording a 3% growth.

“A trend in external [national] debt reduction has been observed for the first time since 2016. As of June, the national debt of the Republic of Armenia decreased by 2.1% ($120 million).

“As of the end of August this year, Armenia’s international reserves have totaled $2.3 billion; the increase has made up $230 million. (…). We [Armenia] have today the historically highest level of international reserves.

“The dimension of shadow economy [in Armenia] is shrinking in 2018 and 2019.

“Inflation in the country is maintained at a low level and is less fluctuating. Inflation was 1.9% in the [first] seven months of 2019. The dollarization rate has fallen by 4% to become 48%.

“The law envisioning amendments and addenda to the Tax Code of the Republic of Armenia has been adopted, as a result: (…) the salaries of 200 thousand people will increase from January 1, 2020.

“The number of technology startups applying for tax exemptions has reached 159, of which 113 companies have received a tax exemption certificate. (...). By 2020, it is envisaged to create 1,000 to 1,200 jobs in this domain.

“The government has made a decision to return a debit balance of about AMD 56 billion to businessmen (...). The meaning of the proposal is that businessmen invest in our economy that money which they long have lost hope of getting back. This is essentially a $100mn state “injection” into the economy—[and] which has no precedent in the history of our country.

“Interest rates on loans granted during January to July 2019 have decreased (...), as compared with the same period of the previous year.

“The government has approved an AMD 23.3bn worth of subsidy programs to be implemented in the provinces.

“Defense spending has increased by 26% in 2019, amounting to AMD 313.2 billion.

“According to the state budget for 2020, funding of the military industry will increase by 114%.

“Armenian doctors carrying out a [humanitarian] mission in Syria have provided medical assistance to 4,870 people, carried out 394 operations, and more than 95,300 square meters of land has been demined.

“The government of the Republic of Armenia will provide about AMD 2.9bn to Artsakh [(Nagorno-Karabakh)] to resolve housing problems of the military service pensioners of the Defense Army.

“The government has approved a decision to provide [monetary] assistance to those affected by the March 1, 2008, events [in capital city Yerevan].”

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