Eurasian Experts Club: Indexes of the Economic Development in Armenia Give a Reason for Moderate Optimism

• 07.17.2017, 15:51
•  EEU,  Armenia

During the first 5 months of 2017, the study of the indexes of the economic development in the Republic of Armenia gives a reason for moderate optimism; however there are many things to do.

The Eurasian Expert Club estimated the general economic motives and indexes for the first 5 month of 2017 in Armenia and presented the results of the study to the media. Particularly, on July 15, the Coordinator of the Expert Club, the Chairman of NGO ''Integration and Development'' Aram Safaryan, Doctor of Economic Sciences, Professor, Member of the Eurasian Expert Club Ashot Tavadyan and Candidate of Economic Sciences, Associate Professor, Member of the Eurasian Expert Club Ashot Tevikyan had a press conference in "Armenpress" press club.

Referring to the general economic situation within Eurasian Economic Union (EAEU), Aram Safaryan noted: "The indexes for the first 5 months of 2017 show that our country is on the way up." He added that the present situation shows that Armenia has an opportunity to finish a year with a positive index, which opens a new path for development.  

Ashot Tavadyan underlined that "the evil is in details." According to him, Armenia is small and the solution is to export ready-made goods. He underlined that the volume of the external trade increased by 23.1 % for the period of January-May: the volume of export increased by 20.9 %, while the volume of import 24.4%.  "It is conditioned by three main factors: disappearance of uncertainty, stabilization of Ruble value and the government reforms in the tax sphere," Tavadyan noted.

Ashot Tevikyan in his turn noted that for the period of January-May, 2017, 6.4% economic activity was recorded in Armenia, while May was characterized by accelerated economic activity growth - 8.9 %. "This has been the highest level since January 2013," Tavikyan underlined. He conditioned it especially by industrial production, trade turnover and services supply sector.

The Eurasian Expert Club conducts such researches and publishes them annually. This is a third research study of this kind. Another report will be presented in August, which will focus on Armenia’s expectations from the EAEU membership.