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PM instructs to develop action plan for restoring economic growth potential


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The Commission for Coordination of Activities to Prevent the Spread of Coronavirus in the Republic of Armenia met in the Office of Government, chaired by Prime Minister Nikol Pashinyan. The discussion was attended by the heads of departments representing the financial and economic sector, MPs from the relevant National Assembly commissions, government officials responsible for the proposed anti-crisis measures.

Minister of Economy Tigran Khachatryan presented a summary analysis of the current situation in the economy and macroeconomic indicators. The Minister noted that the economic indicators had improved in May as compared to April. The decline was much smaller in a number of areas, with some growth recorded in a few sectors as compared to the same period last year.

With reference to the harvesting campaign, Tigran Khachatryan reported the results of a meeting held with representatives of large production and processing companies in the field of viticulture and winemaking.

The meeting discussed further action to overcome the economic impact of COVID-19, inclusive of short and long-term steps. The mechanisms and financial tools for promoting the economy amid crisis were discussed in this context. A number of proposals and recommendations were voiced concerning the development of infrastructure and diversification of exports, identification of new sales markets, digitalization, services, domestic tourism, etc.

Issues of effective organization of agricultural procurements were raised during the exchange of views that followed. The need for raising public awareness of the rules imposed by the Commandant Office, introducing educational and qualitative standards in the programs aimed at promoting the economy was highlighted during the meeting.

Prime Minister Pashinyan instructed Deputy Prime Minister Mher Grigoryan to initiate the development of a program-strategy of actions aimed at restoring the potential for economic growth based on the results of the meeting. The Head of Government suggested that MPs representing the relevant parliamentary commissions should initiate discussions with other stakeholders, finalize the proposals and submit them as part the government’s action plan.

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