Pashinyan urges French companies to start businesses in Armenia

YEREVAN, February 22. /ARKA/. Armenia needs support to achieve its ambitious 7% economic growth, projected for 2024, Prime Minister Nikol Pashinyan said today at a meeting with top managers of a number of major French companies in Paris.

Pashinyan said his government hopes that new companies from France will come to Armenia to start new businesses.

"In 2023, Armenia's economic growth amounted to 8.7%, which is obviously high. In 2022, our economic growth was 12.6%, in 2021 - 5.6%," Pashinyan said.

The prime minister said that the 90% increase in Armenia's state budget revenues achieved last year compared to 2018 means a significant success in reducing the shadow economy and improving competition.

He also noted that 180,000 new jobs have been created in Armenia since 2018. "The year 2023 was also significant as we made significant progress in terms of GDP per capita and, in fact, by its size we are now the first in the South Caucasus," he emphasized.

According to the National Statistical Committee of Armenia, GDP per capita in market prices in 2023 amounted to 3,205,849 drams or 8,168 US dollars or 7,463 euros.

According to the Prime Minister, the IT sector remains one of the leading branches of the Armenian economy. In this regard, he added that the Ministry of Finance and the Ministry of High-Tech Industry are currently discussing the possibilities of improving the legal regulation of the IT sector to make it more attractive.

Pashinyan also pointed out the notable progress in the tourism sector, the investment potential in the wine-making industry and noted that the country is implementing an extensive program for the construction of water reservoirs. -0-