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Madrid

The external factor of economic growth in Armenia is significantly decreasing

The external factor of economic growth is significantly decreasing. This was reported by Tadjos Avetisyan, a deputy of the NA "Hayastan" faction.
 
1. The total economic activity rate of 2024 was 8%, decreasing by 2.5 percentage points compared to the first half of the year.
2. The free decline in agriculture continues. Compared to the previous year, in 2024, the sector had a growth rate near the zero (1.6%), which decreased 2.5 times compared to the first half of the year.
The circulation of agricultural products in 2024 decreased by about 4%.
3. The growth of industry in 2024 was only 4.7 percent, decreasing about 4 times compared to the first half of the year.
4. The total increase in 2024 growth in the field of residence services (hotels, public food, etc.) decreased by about 30% compared to the first half of the year.
5. In 2024, due to the degrading of taxes on about 200 billion drams, the deficit of the RA state budget increased by 187 billion drams.
6. In 2024, the public debt increased by 8.5% ($ 1 billion), almost 1.5 times higher than the economy, the growth of GDP.
7. "Escape" of foreign capital is registered. The total indicators of 2024 have not yet been published, but in the first half of the year the inflow of foreign direct investment has decreased by $ 334 million.
8. In the 4th quarter of 2024, even the monthly cost of the minimum consumer basket per person exceeds the minimum monthly salary amounting to 75811 drams.

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