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July 07
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About 17% of companies in Armenia have recorded 90-100% decline in consumption, while another 17% of companies haven’t recorded decline in sales. These are the indicators that the Union of Manufacturers and Businessmen of Armenia recorded after surveying its members. Based on the results, 32% of companies recorded 50-80% decline in sales, 25% of companies recorded 10-30% reduction of consumption, and 9% of the participants of the survey stated the impossibility of export as a hindrance to consumption.

The survey, the results of which were presented during the session that the Union’s presidency held today, was aimed at showing the situation of economic operators due to the coronavirus pandemic in more detail and the steps that businessmen need to take to resume operation in the created situation.

All the participants of the survey mentioned that their companies strictly observe the requirements that the Commandant’s Office of Armenia has set to combat the coronavirus and that nearly 23% of companies have also undertaken additional measures.

According to 37% of the participants, they can continue to work for a long time amid reduction of sales, 11% can work for up to six months, 11% can work for up to four months, 30% can work for up to two months, and another 11% can work for up to two weeks.

As far as the possible reduction of salaries is concerned, 42% stated that they don’t envisage change of salary, 26% will cut salaries, 8% will send employees on unpaid leave, 16% are trying to maintain 100% of salaries, and 8% will lay off employees.

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