News - PM: Armenia's economy has grown by almost 30% since velvet revolution of 2018

In 2023, we had an economic growth of 8.7 percent, which is higher than the goal expressed in the election program for the 2021 snap elections. Prime Minister Nikol Pashinyan stated this during Wednesday’s joint debates on the performance of Armenia's 2023 state budget at the committees of the National Assembly. "Both in 2022 and 2023, we had economic growth higher than that goal, and our goal was as follows: to have an average annual economic growth of 7 percent. But it is also important to note that since the people’s, non-violent, velvet revolution of 2018 to this day, Armenia's economy has grown by almost 30 percent; this is a very important indicator. Compared to 2017, GDP per capita in real terms has increased by around 37 percent; and in [US] dollar terms, it has more than doubled," said the Armenian PM.