Armenia aims for $12 labor productivity - Papoyan

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Economy

03.12.2025, 18:06

Armenia aims to achieve a labor productivity target of $12 per working hour by 2026, stated Economy Minister Gevorg Papoyan.

Armenia aims for $12 labor productivity - Papoyan

YEREVAN, December 3. /ARKA/. Armenia aims to achieve a labor productivity target of $12 per working hour by 2026, stated Economy Minister Gevorg Papoyan.

"Our labor productivity used to be $5, now it's $11 (for 2024 - ed.)," Papoyan said during government question-and-answer session in parliament.

He noted that the Armenian government attaches great importance to stimulating productivity.

"Three productivity support programs worth over $1.5 billion have been implemented. Tens of thousands of individuals and legal entities have benefited from them. Thanks to these programs, productivity has more than doubled," Papoyan said.

Armenia's 2025 state budget projects economic growth at 5.1%. According to the Central Bank, by the end of 2025, depending on the scenario (A-B), Armenia’s GDP growth is expected to be 5.8-5.7%, in 2026 – 5.7-6.2%, in 2027 – 5-6.3%. -0-

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