YEREVAN, JULY 31, ARMENPRESS. The Armenian economy is slowly recovering from the recession caused by the pandemic of the new coronavirus (COVID-19), this trend is detected in the monthly dynamics, said the chairman of the Permanent Parliamentary Committee on Economic Affairs Babken Tunyan in Armenpress, expressing the hope that the decline will occur to a minimum in the coming months.
In January-June, the rate of economic activity fell by 4.7%. The MP said he had increased the rate of fall from January-May and January-April-April, but pointed to the monthly dynamics to see the adjustments that are made each month. “The fall really started in March. The fall in the rate of economic activity in March was 4.1% compared to March 2019. In April, the fall was 16.3%, but in May it was 12.8% and in June 7.5%. . In other words, if we look at the dynamics per month, we had the biggest drop in April, during the stricter restrictions similar to coronaviruses. But now the downward rate has weakened, and if that momentum continues, the rate will weaken more and more. we would possibly have a recovery in economic activity in the last quarter, in October, November and December. And if those monthly positive adjustments occur, they will be the overall annual figure. But it all depends on the long-term progression of the economy. and the coronavirus scenario will be, ” he added.
With respect to other sectors of the economy, the legislator stated that the symbol is the same in almost all sectors. The industry is alien to other sectors, as there has been expansion in commercial production. It rose 1.5% in January-June, however, on a monthly basis it recorded a decrease: for example, compared to June 2019, this year in June decreased by 2.4%. He said the expansion of the industry was basically at the expense of the expansion of the mining industry. “At the moment, one of the main foundations of the Armenian economy is the mining industry. No matter how dissatisfied environmentalists and others are with this, the fact is that today the mining industry provides a giant component of taxes, currencies and economic indicators,” he added. Added.
Agriculture grew by 1.7% in January-June.
The MP links the weakening of economic decline with the reopening of economic activities. “If the exploitation of public food was first and forbidden, they can now operate according to safe rules. In addition, in March and April, when the anti-crisis packages began to develop, they came into force in early May, aid was provided to both employers and independent companies, which in turn creates a call to the economy,” he said.
Tunyan said the government’s most recent estimates, reflected in the 2021 draft budget, recommend an economic cut of 2.6% through 2020. However, he noted that it is still difficult to make a prediction because the economic scenario is very similar to the fitness scenario and daily instances of coronavirus.
“We can say that the economy is slowly emerging from recession,” he said.
The legislator said there may be complaints that some sectors are facing unrest. He showed that many sectors are facing unrest and that they will be long-term disorders, as it is to return without delay to the past situation. “But on the other hand, it’s vital for businesses and society to have positive expectations, because expectations play an important role in the economy, especially in terms of fiscal policy and other factors,” Babken Tunyan said.
Parliament expressed its desire to standardize the scenario of physical care as soon as possible and to further speed up the recovery process.
Interview through Anna Grigoryan
Editing and translation through Aneta Harutyunyan