October 28, 2019 - 13:22 AMT
Armenia hopes to register 7-9% GDP growth for 2020-2022, says PM

Armenia hopes to reach an economic growth rate of 7-9% over the period of 2020-2022, Prime Minister Nikol Pashinyan said at a parliament hearing on the country's budget for 2020.

Pashinyan said that starting from 2020 pensions will increase by 10%, salaries of 200,000 people will grow, birth allowance for the first child will increase 6 times (to reach AMD 300,000 - about $625 from the current $100), AMD 3 billion will be allocated to help address challenges facing the residents of the Spitak earthquake zone.

Total budget revenues will amount to some AMD 1.6 trillion drams (approx. $ 3.3 billion), the PM revealed.