December 07
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The unfavorable economic situation of Armenia was changed by the large flow of tourists and resettlers from Russia. Economist Suren Parsyan stated about this in an interview with Armenian

He noted that in Armenia’s draft state budget of 2022, it was decided that the economic growth of the country shall be 7 percent, but at the same time, there were no grounds for it because this draft budget mostly indicated 5-7 percent.

Nevertheless, the Armenian government, as the economist noted, for some reason decided to announce and present the highest respective indicator to the public.

However, according to Parsyan, this is neither the first nor the last such economic prediction made by the Armenian government.

"Thus, according to the studies by the government and the Central Bank, it was decided to reduce the indicators of this year's economic growth in the forecasts to all the way 1.5 percent. Later, however, this indicator was revised to 3.7 percent. Now they are talking about 7 percent," explained the economist.

According to him, the unfavorable economic situation of Armenia was changed by the huge flow of tourists and resettlers from Russia—as the Russian capital flowed into Armenia.

"All this certainly affected our economic growth indicators. This was an extremely unpredictable positive phenomenon for our economy. The representatives of the economic bloc represented in the Armenian government could not have even dreamt about this. They could not have predicted such a thing," Suren Parsyan added.

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