FDI in Armenian economy reach record high of $1 billion in 2022- economy minister

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Economy

19.05.2023, 19:02

For the first time in Armenia's history, the annual foreign direct investments (FDI) grew to over $1 billion in 2022, Economy Minister Vahan Kerobyan said at the opening of Yerevan Tech Forum 2023 today.

FDI in Armenian economy reach record high of $1 billion in 2022- economy minister

YEREVAN, May 19. /ARKA/. For the first time in Armenia's history, the annual foreign direct investments (FDI) grew to over $1 billion in 2022, Economy Minister Vahan Kerobyan said at the opening of Yerevan Tech Forum 2023 today.

"Last year Armenia's economy made great strides and last year's data showed a 12.6% GDP growth, which made our economy one of the fastest growing in the world," the minister said.

He said the growth pace in the first quarter of 2023 was as brisk as it was last year. "We recorded a 12.2 percent growth in the first quarter of this year," he said, adding that good results were recorded also in foreign direct investment.

"For the first time in our history, we secured $1 billion in FDI, which is more than 5% of our GDP. Also, total investment, according to preliminary data, amounted to $4.2 billion, which is an impressive result. These investment will ensure maintenance of high economic growth in the years to come," the minister stressed.

Earlier Prime Minister Nikol Pashinyan said last year’s growth was the highest growth recorded over the last 15 years. According to him, the investments in the economy grew to 1 trillion 688 billion drams (about 20% of GDP), and the volume of FDIs almost tripled reaching almost $1 billion. -0—

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