In May, economic activity in Armenia increased by 10.4%, and the number of jobs reached 790.32 thousand - Prime Minister

YEREVAN, June 26. /ARKA/. The economic activity indicator in Armenia in May 2025 increased by 10.4% compared to the same period in 2024, Armenian Prime Minister Nikol Pashinyan said.

At a government meeting on Thursday, he indicated that in January-May of this year, this indicator showed an increase of 5.7% compared to the same period last year. "However, in this context, I consider it important to note that an unprecedented record was recorded in the number of jobs in Armenia in May - 790,320, which is 242,331 or 44% more than in May 2018," Pashinyan noted.

According to him, the wage fund has grown by 146 billion drams, or 151%, compared to May 2018, and the income tax rate has doubled compared to May 2018.

"We have reduced the income tax rate, but as a result, tax revenues have doubled (increased by 101%), and the recorded average salary has increased by 74%, or 11,000 drams," Pashinyan said.

He stated that there are certain problems in the country's economy, electricity production has decreased to a certain extent in May due to a certain decline in domestic demand. ($1 - 385.29 drams).