VIDEO: Nikol Pashinyan's Speech at the "My Step for Aragatsotn Marz" Economic Conference

The "My Step for Aragatsotn Marz" investment conference kicked off in the community of Sasunik, attended by Armenian Prime Minister Nikol Pashinyan, Minister of Territorial Administration and Infrastructure Suren Papikyan, government representatives, businesspeople, foreign investors, and other guests.

In his speech at the conference, Prime Minister Nikol Pashinyan emphasized that it is a good opportunity to discuss the economic situation. He highlighted that 2019 is the first complete economic year where this government is politically responsible for the economic situation from January 1 to December 31. He spoke about several facts.

The Prime Minister noted that this year, there is an expected economic growth of about 7 percent, which is extremely important and a high figure within the EAEU and the entire European region.

“It is understandable that our base is very low, and this is not a figure to feel very happy about. The economic indicators of this year demonstrate that the economic ambitions we have formulated are real and can become a reality,” he said.

Pashinyan reported that compared to 2019, there has been a 3 percent reduction in financial access over the past four years, meaning an improvement of that percentage. He stressed the importance of creating mega-projects that transform Armenia, stating that there is financial opportunity for them today.

“This year, the Republic of Armenia will conclude with a historically record-high indicator in terms of international reserves. We will have the highest level of international reserves in the history of the Third Republic of Armenia. This is also an important achievement, indicating the stability of our country's financial system,” the Prime Minister stated.

He noted that, based on the first three quarters of the year, the Central Bank has conducted purchases amounting to $433 million, meaning that there have been additional foreign currency resources of $433 million in the Armenian market according to the results of the first 9 months. This, according to Pashinyan, is mainly related to the growth of tourism and opens up enormous new opportunities for Armenian citizens.

Pashinyan mentioned that following the issuance of Eurobonds, the international economic community has assessed that Armenia's risk has been reduced by half, which makes the economic environment in Armenia more favorable.

“I do not want to frame this as success because when we say success, we mean something entirely different; we view this as an opportunity,” he added.

For more details, check the video.