Production in Armenia should improve and record new growth next year as a result of the reforms and successes achieved in 2019, Armenian economy minister Tigran Khachatryan said at the Armenian parliament during the discussion of the draft state budget for 2020 on Thursday.
According to him, this is a very important indicator in terms of international assessment and statistics.
“According to the 2018 data, one person in Armenia produces products worth $ 6.1 per hour,” the minister said, adding that this figure is below average compared to the EU and the US.
Khachatryan noted that programs aimed at medium and long-term development of production will be in the focus of attention of the Armenian government.
“The export of products and services should indicate that the competitiveness of our economy has increased, and certain problems arise since we have a limited market size, with a limited ability to market our products. If production increases, the investment climate in the country changes, and investments grow, in this case we must cast our eyes to foreign markets so that different entities that operate in the economy can expand,” he added.