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Pashinyan proclaims ‘start of ‘economic revolution’ in Armenia

The Armenian government’s program for the coming five years is aimed at building a competitive and inclusive economy with a strong focus on exports to bring the assigned objectives in line with high technological, industrial and environmental standards, Prime Minister Nikol Pashinyan said today, reiterating his earlier promise to embark on an “economic revolution”.

In a speech at the National Assembly, the premier also highlighted the government’s major task to restructure the gross domestic product (GDP) to make technologies and technological innovation the key locomotives of the national economy. “Of all the human capacities, human thought, intellect and initiatives should be the driving force of the Armenian economy,” he said.

Pashinyan also called for strong efforts to upgrade the domestic market “as a strong foothold for all the sectors of the economy”. “I always make calls for giving preference to the domestic products and services; nevertheless, the perspective of our economic developments remains exports – where our opportunities are limited as it is. With the unused export potential being really huge, our major task should now focus on ensuring the compliance of our goods with the highest international standards,” he said.

The policies outlined in our government’s program propose a switchover from economic growth to economic development, Pashinyan added. “Economic growth is practically achievable thanks to several companies’ work, but that, in essence, would be nothing more than just an arithmetic, because the impact – no matter how sizable – would never actually be tangible enough for the population.

Hence the government is setting a task to make the eradication of poverty, essential reduction of unemployment, continuing increase in salaries and old-age benefits, as well as growth in exports achievable in Armenia in the five years to come,” he noted.
Describing the proposed steps as real efforts underlying an economic revolution, the premier said he from now on declares a strong government campaign to end corruption and economic abuses in the country. “Likewise I declared the start of a Velvet Revolution in Armenia on April 16, I now proclaim the start of a pan-national economic revolution in the Republic of Armenia. The Armenian people won in the struggle against a clan government, and so will they in the fight against poverty, unemployment, misery and inaction,” he added.

Amalya Arakelyan


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