Armenia's economy ministry suggests cutting New Year and Christmas holidays

YEREVAN, January 21. /ARKA/. Armenia's Ministry of Economy has unveiled a legislative initiative suggesting that New Year and Christmas holidays be cut.

New Year's holidays in Armenia are celebrated from December 31 to January 7 inclusive. The initiative calls for cutting New Year holidays to January 1st and 2nd inclusive. It also proposes that January 6th marked by the Armenian Apostolic Church as Christmas be a non-working day too.

The ministry said the number of paid non-working days provided to citizens of Armenia exceeds the number of paid non-working days provided to workers in highly developed countries.

“Holidays and weekends, given that they are non-working days, affect both the gross domestic product of the country,  the output of products and services, the  foreign economic activity, as well as the implementation of contractual obligations to  local and foreign partner organizations,” the ministry said in a statement.

The ministry said a study showed that in case of 5 additional working days a year , other things being equal,  the GDP will grow by 88.6 billion drams, the gross output will increase by 123 billion drams, including 47.5 billion dram growth in commodity turnover, 35.4 billion drams worth growth in industrial output. Services will grow by 33.9 billion drams, agriculture and construction by 3.5 and 2.9 billion drams, respectively. ($1 - 519.19 drams). --0--