The agricultural sector has declined in Armenia, whereas trade and services have largely contributed to the economic growth in the country. The Center for Economic Development Initiatives has noted this in a statement.
The report, in particular, says that the mining and open-pit mines’ exploitation grew by 20.5%.
In September, the government moved ahead with its planned action, shifting the burden of increasing national debt to the fourth quarter of 2019.
Export volumes and foreign currency outflows have increased.
Significant increase in the number of registered workers in 2019, but the majority of them is unregistered, with unemployment still at a high level.
There is significant increase in tax revenues, coupled with underperformance of spending, especially large capital expenditure.
Average monthly wage grew, but it has been accompanied by an increase in excise taxes.
The minimum wage has gone up, which exceeds the minimum consumer basket, but in 2020, the social payment for the employee will be 5% instead of the current 2.5%.
There is a relatively low inflation rate, but a significant increase in some essentials.
Although we have seen an increase in total foreign investment, we have seen a significant decline in net flows.