The main indicators of the socioeconomic development of the Republic of Armenia (RA) in January-April 2021 were published yesterday. Former Prime Minister Hrant Bagratyan—an economist by profession—noted this Wednesday.
"In the first 4 months of this year, there is an increase of 2.6%. (…). By the way, it is customary in the world to calculate GDP numbers in quarterly months.
Monthly GDP gives big distortions. It is different in the RA. The NSS [(National Statistical Service)] has invented the EAI [Economic Activity Index] and is doing whatever it wants.
And here the EAI for the first 4 months of 2021 was + 2.6%. Moreover, April 2021 against 2020—22.3%.
And now the Minister of Economy says: ‘Wasn’t I notifying that there will be double-digit growth [in Armenia] in 2021?’
Well, what to say about these phenomena? First, there is growth only because there has been a lockdown [in Armenia] since mid-March 2021. 2nd, in April 2020 there were 22 working days, and in 2021—21. Third, there is no agriculture in the EAI for 4 months (we have a decline here),” Bagratyan added, in particular.
