Armenian economy is recovering, prime minister says

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YEREVAN, June 24. /ARKA/. Armenian economy began to recover, Prime Minister Nikol Pashinyan said during a live Facebook broadcast on June 23 evening, saying that some 50,094 jobs were recovered in May out of 71,471 that had been closed in April.

According to him, the most important problem during the period of restrictions in March and April was associated with the rapid pace of economic decline.

He said with the closure of over 71,400 jobs, the government became convinced of the need to implement a“life strategy”in parallel with the coronavirus. At the same time, the prime minister emphasized that these indicators do not mean overcoming economic difficulties.

“This means that we have begun the recovery process. We must continue it in order to be able to achieve new economic indicators,” he said.

Pashinyan said everything possible should be done to avoid the need to return to the lockdown, because that would lead to economic collapse and it would take about ten years to recover from it. He recalled that in order to prevent repeated lockdown, anti-epidemic rules must be observed.

“If we are forced to re-impose a lockdown, then we would lose not 71 thousand, but 150 thousand jobs. And in that case, the recovery would be either slow or impossible,” he warned.

The Prime Minister added that the figures presented by the State Revenue Committee also indicate that trade is also recovering.

A 30-day state of emergency to curb the spread of coronavirus was declared in Armenia on March 16 and restrictions were imposed on free movement of citizens. The government banned also some types of economic activity.
On April 13, the government extended the state of emergency for another month and on May 4 it lifted the ban on almost all types of economic activity and the free movement of citizens, except for public transport. On May 14, the government has again extended the state of emergency for another 30 days.

However, despite the extension, public transport, preschools, trading centers, restaurants and gyms have reopened starting from May 18, and wearing of masks has become mandatory in public spaces. On June 12, the government has extended the state of emergency for another month- until July 13.

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