We Must Ensure 7% Economic Growth in 2024: Prime Minister

Prime Minister Nikol Pashinyan led a government meeting where the preliminary macroeconomic and fiscal framework for the 2025-2027 medium-term expenditure program was discussed. The meeting addressed current economic developments in Armenia and globally, as well as possible forecasts related to sectoral economic activity, dynamics of exports and imports, tourism trends, fiscal policy, the level of capital expenditures, and opportunities for further expansion among other issues.

In this context, there was a fruitful exchange of ideas, and the heads of various departments presented different observations and suggestions. Summarizing the discussions, the Prime Minister addressed the economic development targets and steps for the current year: “We must ensure 7% economic growth in 2024, based on our work. Our capital construction projects must be implemented with maximum quality and ensure higher performance than our average annual statistical indicators. I want to draw special attention to several programs: the renovation program must definitely continue, and we need to promote the 16 million dram housing program in border villages, as this provides us with the opportunity to transfer economic activity more into the regions, as its effect is very significant. I also want to focus our attention on health insurance because it is clear to me that this decision will lead to substantial investments in the health sector; it simply cannot be otherwise. Essentially, the system is ready.

Nikol Pashinyan emphasized that it is through the government’s work that they must be able to achieve the target of 7% economic growth.