Confusion or Deception? Economist Points Out Several Errors in Pashinyan's Data

The head of the Economic Research Office of the Bureau of the Armenian Revolutionary Federation (ARF), economist Suren Paryan, has several objections to the figures released by Prime Minister Nikol Pashinyan during a session of the National Assembly's committee. In this regard, the economist provided several facts, outlined below:

“On October 25, 2021, Nikol Pashinyan attended a joint session of the National Assembly's permanent committees to begin preliminary discussions on the draft law concerning the Republic of Armenia's 2022 state budget, during which he presented a series of figures that do not correspond to reality.

Fact 1: The economy did not grow faster than forecasted. According to the 2021 state budget, the economy was projected to grow by 4.8 percent this year. However, according to the official data published by the Statistical Committee of Armenia, the growth of the economy from January to September 2021 was only 4.4 percent, meaning we have an economic growth of 0.4 percent lower than anticipated.

Fact 2: The average salary did not increase by 11.9 percent in September 2021. According to official data from the State Revenue Committee of Armenia, 36.818 billion AMD of income tax was collected in September 2021, which is an increase of 946 million AMD or 2.6 percent compared to September of the previous year. Under conditions of an 11.9 percent salary increase, there would have been a greater accumulation of tax from salaries.

Fact 3: Exports did not increase by more than 20 percent. According to the official data released by the Statistical Committee of Armenia, exports increased by only 17.2 percent from January to September 2021, with this growth mainly driven by raw materials such as copper, molybdenum, and gold.

Fact 4: The government has failed agricultural programs. According to data published by the Statistical Committee of Armenia, the agricultural sector recorded a decline of 1.5 percent from January to September 2021. There has been a reduction in the number of cattle.

Note: If the current spread of the coronavirus continues and the inactivity of responsible bodies persists, we may see lower economic indicators this year, as Armenia will be compelled to impose restrictions on economic activities (LockDowns).”