Prime Minister Nikol Pashinyan has issued a statement saying:

“We had excellent economic performance in February as well. But today we only record these figures as evidence of the competitiveness and justification of our policy.

Now we are obviously in a phase of decline and we have to apply other scenarios of development in the coronavirus and post-coronaviruses period. They should be more ambitious. In the next five years, we need to double our GDP. In the previous scenario such an outcome could not be achieved.

The crisis, while creating current problems, also opens up new opportunities, great opportunities.

Below are the highlights of the first two months of this year.

February

Economic activity growth – 9.2%

Industry growth – 9.7 percent

Construction growth – 25%

Increase in services – 3.5%

Increase in trade turnover – 10%

Increase in electricity production – 1.2%

Export growth – 7.6%

in January-February

Economic activity growth – 8.7%

Industrial growth – 15.3 percent

Construction growth – 5.8%

Increase in trade turnover – 6.3%

Increase in services – 11.2%

Increase in electricity production – 23.1%

Export growth – 8.8 percent.