In 2022, an economic activity index of 14.2 percent was recorded in Armenia, and GDP per capita increased, from approximately $4,620 to $6,700-6,800, which means that Armenia ranks among countries such as Albania and Bosnia and Herzegovina. Minister of economy Vahan Kerobyan told this to reporters today in the National Assembly of Armenia.
"We have to do so that the institutions operating in our country achieve progress and we can make our country a country with better infrastructure," he added.
And to the remark that the poverty level in Armenia continues to be very high amid double-digit economic growth, and asked how is it that the economy is growing, whereas people in the country are living worse, the economy minister said: "They don't live worse. People, on average, live far better than they did a year ago; economic growth shows just that. Considering also the inclusiveness in our economic growth, we can say that most people [in Armenia] are living better.
We can even get out of the double-digit unemployment state. Approximately 37,000 new legal entities were opened [in Armenia], of which 12,000 were CJSC or LLC. Those companies have hired people, created new value, which is expressed in economic activity. The vast majority of companies had unprecedented growth in turnover. For the first time, we have a turnover of one billion [US dollars] with three countries. Usually, it was only Russia and China, now our turnover with the United Arab Emirates has also exceeded one billion. Our trade with four other countries—Germany, Iran, USA, and Georgia—has exceeded $500 million.”