Economic Growth Registered in First Quarter of 2022, Says Pashinyan

The inaugural meeting of the Economic Policy Council, chaired by Prime Minister Nikol Pashinyan, has taken place via video conference. In his remarks, the Prime Minister stated:

“Dear members of the Economic Council, participants,

I am pleased to convene the first meeting of the Council. I want to express my gratitude to the Council members for accepting the invitation and supporting the Armenian government through providing objective economic advice on the formation of economic policy as the global economy undergoes transformational upheavals due to the pandemic, the accelerating pace of digital transformation, climate change, and geopolitical tensions. Some challenges, such as the acceleration of inflation and disruptions in supply chains, are particularly difficult for small economies. Armenia is no exception.

We have recorded economic growth in the first quarter of 2022, but we understand that sustainable long-term economic development will greatly depend on the flexibility and effectiveness of our reforms and projects today.

I am confident that the Economic Council will evolve into an institution that will assist, support, and guide Armenia's economic reforms, and I am firmly committed to supporting the Council's activities through open, transparent, and constructive dialogue.

I wish all participants a successful and productive discussion.”

Discussions on matters regarding the further activities of the Council were also held. Participants expressed their belief that discussions within the Council would contribute to the formulation of steps, ideas, and proposals aimed at overcoming the existing challenges in the economy and finding effective solutions.

The next meeting of the Council is scheduled to take place in July in Armenia.