ArmInfo.Despite the difficult challenges, joy everyone's joy, the economy of Armenia displayed and continues displaying a fairly high resistance, including the effective macro-economic policies and equivalent actions being continuously implemented by the Government and the Central Bank. The RA Minister of Finance Vahe Hovhannisyan said on November 14, presenting for debate in the National Assembly the draft  law on RA State Budget for 2024.

ArmInfo.

ArmInfo. The nominal GDP of Armenia in the conditions of 7% economic growth will grow by about 839 billion drams (about 1.7 billion US dollars, the estimated  exchange rate of the Armenian dram to the dollar is 493.6 drams per 1  dollar) - up to 7.869.4 billion drams.  This is stated in the draft  state budget for 2022, presented for preliminary discussion by the  National Assembly.

ArmInfo. In the new forecast report of the Central Bank of Armenia for 2021, the unemployment rate was reduced to 15.7% from the previous 17.9% (against the actual  18.1% in 2020).  

ArmInfo.According to the new forecast of the Central Bank of Armenia, the unemployment rate in 2021 will decrease to 17.9% (from the actual 18.1% in 2020), which is due to higher rates of productivity growth. And in the medium term,  this indicator will decrease annually by 0.3-0.4 percentage points  and will reach 17.2% by the end of the period.

ArmInfo. According to the new  forecast of the Central Bank of Armenia, the unemployment rate in  2020 will increase to 20.2% (from the actual 18.9% in 2019). In 2021,  with a reduction in measures to eliminate the consequences on the  economy from the coronavirus pandemic, the unemployment rate will  rise to 21.2%. In the medium term, in parallel with the economic  recovery, this indicator will decrease annually by 0.5 percentage  points - to 20% (against the previously expected 19.6%). This  forecast is given in the Monetary Policy Program of the Central Bank  for the III quarter of 2020, published on September 30, where it was  noted that the forecast for GDP for 2020 deteriorated to a larger  decline of 6.2% from the previously expected 4%.

ArmInfo.In Armenia, the nominal wages in June accelerated the decline to 0.3% from 0.1% in May, due to the reversal of the dynamics of wages in the private sector from  growth to decline, with a reverse trend in wages in the public sector  with an exit from the decline to growth.  And this despite the fact  that since May 18, the private sector has fully resumed, despite the  extended state of emergency until August 13.  

ArmInfo. In May, nominal wages in May went from recession to growth due to the resumption of private sector activity. According to preliminary data of the Statistical Committee of the Republic of Armenia, in January-May 2020, nominal  wages accelerated the annual growth rate to 7.9% from 5.4% in  January-May 2019, amounting to 190166 drams ($ 393).

ArmInfo. At a meeting on February 27, the Armenian government approved a report on the implementation of the government program in 2019. The document in the  prescribed manner until March 1 will be submitted to the country's  parliament.

ArmInfo. Nominal wages in Armenia accelerated growth rates - up to 5.8% in January-December 2019 from 3.8% in January-December 2018, amounting to 182750 drams ($  380). In December alone, nominal wages increased by 26.4%, against a  23.4% increase in December 2018.  In December 2019, as compared to  December 2018, the nominal wage increased by 5.4%, against a growth  of 2% in December 2018 compared to December 2017.

ArmInfo.The Central Bank of Armenia has improved its forecast for GDP growth for 2019 to 7-7.3% (7.2% on average) from the previous 6.7-7.2% (6.9% on average). As  set out in the Central Bank's monetary policy program for the Q4 of  2019, published at the end of December, this is largely determined by  domestic demand, especially by a high level of private expenses.  Namely, it is noted that, given the growth of private consumption by  11.4% and the increase in gross fixed assets of the private sector by  1.2%, private spending will increase by 9.9%.

ArmInfo. The Armenian government summed up the socio-economic results of September 2019.

ArmInfo. Nominal wages in Armenia accelerated growth rates - up to 3.8% in January-December 2018 from 2.9% in January-December 2017, reaching 172357 drams ($  357).  In December alone, nominal wages increased by 23.4%, against a  25.2% increase in December 2017.

ArmInfo. Nominal salaries in  Armenia accelerated the rate of growth - from 1.7% in Jan-Dec 2016 to  2.9% in Jan-Dec 2017, making 194259 AMD ($ 402). Only in December,  nominal wages increased by 25.2%, compared to 22.6% growth in  December 2016. In December 2017 compared with December 2016, nominal  wages increased by 2.6%, against a decline of 0.4% in December 2016  by December 2015.

ArmInfo. Nominal wages in Armenia accelerated the rate of growth - from 2% in Jan-Nov 2016 to 2.6% in January-November 2017, amounting to 189631 AMD ($ 393). Only in November, nominal wages fell by 0.3%, against the 0.1% decline in November 2016. In November 2017, by November 2016, nominal wage growth accelerated to 3.8% from 0.7% in November 2016 by November 2015.

ArmInfo. In Armenia, the  sphere of information and communication keeps the leadership in terms  of wages - on September 1 this year 435.5 thousand AMD with an annual  growth of 13.1%. According to the National Statistical Service of  Armenia, followed by the mining industry -392.6 thousand AMD (an  annual increase of 8.4%), the financial sector - 390.2 thousand AMD  (annual decline of 0.3%), and the energy complex - 246.4 thousand AMD  (annual decline of 3%).

ArmInfo. Nominal wages in Armenia slightly accelerated the rate of growth - from 2.2% in January-September 2016 to 2.4% in January-September 2017, amounting to 189928 AMD ($ 394).

ArmInfo. The Central Bank of Armenia has updated the unemployment forecast for 2017 - 17.9%, which is 0.2 percentage points higher than the previous bar.

ArmInfo. The Central Bank of Armenia has updated the unemployment forecast for 2017 - 17.7%, which is 0.8 percentage points lower than the previous one. In the medium term, the Central Bank's forecasts point to a downward trend: in 2018, to 17-17.3% and in 2019 to 16.7-17%. In the previous forecast of the Central Bank, unemployment in 2017 was expected at 18.5%, with an annual decline in 2018 to 18-18.2% and in 2019 to 17.6-18%.

ArmInfo. According to the Central Bank of Armenia (CBA), in 2017 unemployment in Armenia will make up 18.5%, with annual reduction by 0.3-0.4 pct points to 18- 18.2% and 17.6-18% in 2018-2019, respectively. The CBA's previous forecast made in November 2016 pointed out 18.3% unemployment for 2017, and growth from 17.8% to 18.1% for 2016. The updated (February) forecast is published in the CBA's monetary policy program for Q1 2017, which says that the low demand for labor force due to the low economy activity in 2016 will gradually recover due to the acceleration of the economic growth. This, in turn, will slowly increase employment.