• Հայ
  • Eng
  • РУС
  • Az
Nikol Pashinyan leaves for US on working visit Nikol Pashinyan leaves for... 08:34
February 17 in 60 seconds February 17 in 60 seconds 21:33
February 16 in 60 seconds February 16 in 60 seconds 21:00
  • Programs
  • World
  • Health
  • Political
  • Economic
  • Public
    • National security
  • Law
  • Investigation
  • Army
    • Eye on the border
  • Nagorno Karabakh
  • State of emergency
  • Regions
  • Nagorno Karabakh under attack
  • Diaspora
  • Cultural
  • Sport
  • Region
Armenia's economy has experienced great growth in recent years: PM Pashinyan delivers speech at EBRD annual meeting in Yerevan
Public
18:4715 May, 2024

Armenia's economy has experienced great growth in recent years: PM Pashinyan delivers speech at EBRD annual meeting in Yerevan

Prime Minister Nikol Pashinyan attended the opening ceremony of the annual meeting of the European Bank for Reconstruction and Development. The Prime Minister made a speech, in which he specifically stated:
 
"Dear Ms President of EBRD, honorable heads of delegations, dear attendees,
 
I salute the holding of the annual meeting of the European Bank for Reconstruction and Development in the Republic of Armenia. It is an honor for us to host this prestigious European institution, of which Armenia is a member, the partnership with which we greatly value.
 
The economy of the Republic of Armenia has experienced a great growth in recent years. Since the People's Nonviolent Velvet Revolution of 2018, Armenia's economy has grown by almost 30 percent. State budget revenues increased by more than 91 percent, about 200,000 jobs were created, which means an increase of about 37 percent in the total number of jobs. The average nominal salary has increased by about 87 percent compared to 2017, the GDP per capita has almost doubled. Please, take into account that during this time we also survived the Covid epidemic, the 44-day war, a humanitarian crisis and the deportation of more than 100 thousand Armenians from Nagorno Karabakh, the occupation of more than 200 square kilometers of sovereign territories of the Republic of Armenia, internal political and regional escalations. But thanks to the above-mentioned economic indicators, we were able to resist all the mentioned challenges. I must note, however, that the mentioned economic indicators were recorded precisely because of the changes brought by the People's, Non-violent, Velvet Revolution of 2018 and the government's non-deviation from the course of democratic reforms.
 
It was after the revolution that all businessmen in Armenia got the opportunity to conduct economic activities freely and without restrictions. Until then, the most profitable branches of the economy in the Republic of Armenia were actually quotas in a shadowy way, the import and export of many products was not possible without the permission of the political authorities.
 
Since 2018, these phenomena have been eradicated from Armenia, and now in our country all those people who have the necessary skills, abilities and desire can make a profit. It is thanks to these people that the economy has developed, state budget revenues have increased, and these people are the locomotive of our country's development.
 
Economic growth is, of course, influenced by various factors. But in Armenia, by and large, the rate of economic growth is directly proportional to the course of democratic reforms. We have significantly reduced the shadow, we are relentlessly fighting corruption. In Transparency International's Global Index of Corruption Perceptions, the Republic of Armenia has progressed by 45 points since 2018, moving from 107th place to 62nd place.
 
Dear attendees,
 
As a result of all these developments, the potential of Armenia's economy has increased significantly, and the realization of this potential is a new challenge for our country, because the proper realization of this potential is of utmost importance from the point of view of the future development of our country. To solve this problem, we believe three key things should be done. reforms in the education sector, development of institutional capacities, implementation of the peace agenda.
 
In the field of education, we are at the most active stage of improving contentual and physical infrastructure. We have adopted the new standards of pre-school education and general education and started the teacher certification process, one of the key goals of which is to double teachers' salaries through qualification verification.
 
Also, in order to ensure access to education in the entire territory of the republic, we have undertaken the construction of 500 kindergartens and 300 schools, and by the way, on the way to the implementation of this project, we often feel the institutional capacity gaps in the education sector, in the public and private sectors. In any case, the fact that compared to 2017, the budgetary financing of the education sector in 2024 has more than doubled, more specifically, it has increased by 119 percent, deserves attention.
 
Science funding has increased by 147 percent compared to 2017, and here also the processes of sometimes even tripling the salaries of scientists are underway.
 
In this context, we attach special importance to the reforms of vocational education and training, as well as higher education. We are in the active stage of discussions of the Academic City project. The idea is as follows. build an Academic City from scratch, which will become the university and IT center of the country, as well as a favorite place for intellectual entertainment. I would like to draw the attention of investors to this project, the development of the master plan of which will be completed soon.
 
Reforms in the field of education are key for us, because the new quality of education is necessary from the point of view of ensuring the further progress of our country. Education is also a tool to ensure democracy, anti-corruption practices, institutional capacity building. After all, the work around all these agendas is done by people, and the more highly qualified specialists there are, the easier it is to implement any, even the most ambitious projects.
 
But the idea is not only making the next generation with much higher level of education and be more competitive in the global and local labor market and thus make our economy more competitive. The issue is that during the reforms of the education sector, we also learn, and in general, our strategic concept of the education sector is making education a lifelong process and a state ideology. As I have already said, on the way to the implementation of the reform and development agenda, we very often feel the gaps in our educational system, in our ingrained attitude towards education, both in the public and private sectors.
 
The private sector is also in need of highly qualified specialists today, and this is often needed to reduce production costs, enter new markets, and develop production and labor standards. Of course, the government implements programs aimed at all this, but also our abilities to implement and improve these programs need to be developed. And development is not possible without education, without learning.
 
No creative change is possible without learning. I have already talked about the peace agenda, but it is not possible to live peacefully without learning, because some countries in our region, for example, Armenia and Azerbaijan, do not have the experience and knowledge of peaceful coexistence. They have been in conflict since the first days of independence, and beyond political negotiations and principles of peace, there is an important prerequisite: learning to live peacefully, which is an extremely difficult process, because I repeat, neither we nor Azerbaijan know what it is, what it looks like. In the case of Azerbaijan, living peacefully with Armenia, in the case of Armenia, living peacefully with Azerbaijan are unfamiliar phenomena.
 
And what you don't know brings uncertainties, concerns, tensions, which you understandably formulate and perceive based on your historical experience, and historical experience says that this is not possible.
 
This is where the need to learn comes, because the historical experience of mankind should have told and convinced mankind that it is not possible to fly into space. And it really wasn't possible until humanity started learning to fly into space, and now you won't surprise anyone by flying into space.
 
And this happened after mankind learned to make tools that made possible what previously seemed impossible. During that learning, people were burned at the stake, but the globe did not stop spinning and the learning process did not stop.
 
In the case of Armenia and Azerbaijan, we also need tools to learn to live peacefully. One of those tools is the "Crossroads of Peace" project proposed by the government, this project is not only for Armenia and Azerbaijan, but if we look at it in this context, one of the important points is that Armenia and Azerbaijan open for each other highways, railways, opportunities to lay pipelines through each other's territory, electricity transmission cables, on the basis of respect for each other's territorial integrity, sovereignty, jurisdiction, on the principle of equality and reciprocity. These principles for the opening of regional communication channels were agreed on on July 15, 2023 in Brussels at a meeting with the participation of the President of Azerbaijan, the President of the European Council, Charles Michel and myself, and was published by Charles Michel.
 
And on October 6, 2022, in Prague, Armenia and Azerbaijan agreed to recognize each other's territorial integrity on the basis of 1991 Alma-Ata Declaration.
 
That declaration was signed by the 12 republics of the former Soviet Union to record that first, the Soviet Union ceases to exist, and the administrative borders exisiting at that moment between the Soviet republics become state borders because the Soviet republics become independent states.
 
Here, on October 6, 2022, in Prague, through the mediation of French President Emmanuel Macron and European Council President Charles Michel, Armenia and Azerbaijan agreed that the Alma-Ata Declaration should be the basis of demarcation between the two countries.
 
The demarcation process between Armenia and Azerbaijan has started these days and should become one of the tools that will teach Armenia and Azerbaijan to live peacefully.
 
Dear EBRD President, dear Heads of Delegations, dear attendees,
 
Thank you for your attention and I wish you success at the annual meeting of the European Bank for Reconstruction and Development."
 
The President of the European Bank for Reconstruction and Development Odile Renaud-Basso also delivered a speech at the conference.
Views 422
facebook icon twitter icon
Հիմա եթերում
News
  • Russia considers it unlikely that management of 'Armenian Railways' will be transferred to another country: Zakharova 16:2218 Feb, 2026
  • Third round of trilateral talks on Ukraine concluded in Geneva 16:1418 Feb, 2026
  • Vatican says it will not participate in Trump's 'Board of Peace' 15:5518 Feb, 2026
  • I hope that peace agreement between Armenia and Azerbaijan will be signed soon: President of Greece 15:4418 Feb, 2026
  • Ceremony to sign memorandum of understanding with Armenia held at residence of President of Greece 14:0918 Feb, 2026
  • Iran and Russia to hold naval exercises on Thursday 13:2218 Feb, 2026
  • American side sees progress in Ukraine-Russia-US negotiations 12:5918 Feb, 2026
  • US may use military force if talks with Iran reach deadlock: Vance 12:3418 Feb, 2026
  • US threatens to quit International Energy Agency 12:0318 Feb, 2026
  • Russia-US-Ukraine talks continue in Geneva 11:2318 Feb, 2026
  • Armenia and UK continue to deepen cooperation in field of cyber defense by participating in Defense Cyber ​​Marvel 2026 drills 11:0818 Feb, 2026
  • Promotion of tourism between two countries emphasized: Ambassador Kocharyan's meeting with Deputy Chairman of Tourism Committee of Uzbekistan 10:5318 Feb, 2026
  • Nikol Pashinyan leaves for US on working visit 08:3418 Feb, 2026
  • Remarks by Deputy Foreign Minister of Armenia at event of Armenia’s Presidency of COP17 to UN Convention on Biological Diversity in Rome 23:3417 Feb, 2026
  • Meeting of tForeign Minister of Armenia with Director-General for Enlargement and Eastern Neighborhood of European Commission 22:3517 Feb, 2026
  • EU Mission to Armenia has new head 22:1317 Feb, 2026
  • February 17 in 60 seconds 21:3317 Feb, 2026
  • Vahagn Khachaturyan arrived in Athens on state visit 21:1917 Feb, 2026
  • Macron hails growing relationship with India amid 'changing world order' 20:1417 Feb, 2026
  • Washington and Tehran held indirect talks on their nuclear dispute 19:5717 Feb, 2026
  • Iran FM says agreed with US 'on guiding principles' for deal 19:1817 Feb, 2026
  • Israel's West Bank land registration approval under fire 17:3617 Feb, 2026
  • Talks in Geneva between Russia, Ukraine and United States begin 16:5617 Feb, 2026
  • US and Iran set for high-stakes nuclear talks in Geneva as threat of war looms 16:1417 Feb, 2026
  • I am confident that in the future, our bilateral relations will continue to expand, Nikol Pashinyan congratulates China’s leadership 15:4417 Feb, 2026
  • More than a dozen killed in Khyber Pakhtunkhwa province attack 15:4117 Feb, 2026
  • Trump says he will be involved indirectly in Iran talks 14:5417 Feb, 2026
  • World leaders, heads of int'l organizations send Chinese New Year greetings 13:1117 Feb, 2026
  • Ruben Vardanyan sentenced to 20 years in prison 11:5517 Feb, 2026
  • Ukraine talks will be 'very easy', Trump says 11:4817 Feb, 2026
  • Agrifood systems are also an important pillar of biodiversity action, Permanent Representative of Armenia to UN 08:2317 Feb, 2026
  • February 16 in 60 seconds 21:0016 Feb, 2026
  • United States and Hungary agreed to cooperate in energy sector, including nuclear energy 20:3316 Feb, 2026
  • Suffocating Western pressure may finally force Russian oil output cuts: Reuters 20:0316 Feb, 2026
  • United States is not imposing an agreement on parties to conflict regarding Ukraine: Rubio 18:4216 Feb, 2026
  • Israeli Orthodox Jews refuse to serve in army 18:0616 Feb, 2026
  • Kremlin expands Russia’s Geneva delegation, plans to discuss territorial issues 17:4516 Feb, 2026
  • Kremlin 'categorically denies' Navalny poisoning allegations 17:1216 Feb, 2026
  • Elon Musk promised to build 'self-sustaining city' on Moon within 10 years 16:1816 Feb, 2026
  • Armenia attaches great importance to consistent development and expansion of our bilateral relations based on mutual trust: Nikol Pashinyan to Prime Minister of Lithuania 16:1416 Feb, 2026
  • Iran ready to discuss compromises to reach nuclear deal, Takht-Ravanchi tells BBC in Tehran 14:4416 Feb, 2026
  • At meeting with representatives of Azerbaijani civil society, issue of establishing direct connection in Kazakh–Ijevan section also discussed 14:0616 Feb, 2026
  • Meeting of delimitation commissions of Armenia and Azerbaijan planned in near future: Narek Minasyan 13:3616 Feb, 2026
  • We tried to explain to our Azerbaijani partners why presence of prisoners in Baku does not fit into logic of current peace processes: Sultanyan 13:3116 Feb, 2026
  • We have not set ourselves the goal of consigning our history to oblivion: Areg Kochinyan 13:2116 Feb, 2026
  • Iran ready to discuss compromises with US for nuclear deal: Iranian Foreign Ministry 13:1516 Feb, 2026
  • For the first time, events were held with state support and funding from Armenia and Azerbaijan: Kochinyan 13:0916 Feb, 2026
  • Ukrainian delegation leaves for Geneva to participate in trilateral talks 12:4416 Feb, 2026
  • Board of Peace members pledge $5 billion for Gaza: Trump 12:2316 Feb, 2026
  • US Embassy to Armenia is closed today 08:3716 Feb, 2026
  • U.S. visa screening does not stop after a visa is issued: US Embassy to Armenia 15:5615 Feb, 2026
  • February 14 in 60 seconds 21:0014 Feb, 2026
  • Europe’s absence from Russia talks major mistake: Zelensky 20:1114 Feb, 2026
  • Europe sees that TRIPP project could represent real progress for region: Kos 19:4714 Feb, 2026
  • Discussions at Armenian-Azerbaijani conference focused on current stage of Armenian-Azerbaijani relations and prospects for future development 19:2114 Feb, 2026
  • Aliyev thanks Georgia for creating transit opportunities between Armenia and Azerbaijan 19:0914 Feb, 2026
  • Europe must be ready to fight, Starmer tells Munich Security Conference 18:5614 Feb, 2026
  • US Secretary of State and Chinese Foreign Minister Meet in Munich 17:1814 Feb, 2026
  • Armen Grigoryan met with representatives of civil society in Armenia and Azerbaijan 16:2214 Feb, 2026
  • We have reached agreement with Iran to resume IAEA inspection activities: Grossi 16:1714 Feb, 2026
  • Not today, not tomorrow, but everyone will return: Alen Simonyan on return of prisoners of war 15:1214 Feb, 2026
  • Trump says Iran regime change 'best thing that could happen' 14:5114 Feb, 2026
  • Vahan Kostanyan met with representatives of civil society in Armenia and Azerbaijan 13:3514 Feb, 2026
  • US calls on Europe to join new path chosen by Donald Trump: Rubio 13:2114 Feb, 2026
  • President of Georges Pompidou Center for Art and Culture in Paris visits Armenian Genocide Memorial Complex 13:0614 Feb, 2026
  • Macron announced the need to start direct contacts with Russia 12:5714 Feb, 2026
  • Moscow and Beijing helping to create political environment for Iran-US talks: Ryabkov 12:2314 Feb, 2026
  • I believe that full peace between Armenia and Azerbaijan will be established soon: Aliyev 12:0414 Feb, 2026
  • Russia wants to make a deal, so Volodymyr Zelensky must take action: Trump 11:4114 Feb, 2026
  • February 13 in 60 seconds 21:0013 Feb, 2026
  • Nine people arrested in France over Louvre ticket fraud 20:4513 Feb, 2026
  • Switzerland to vote on limiting population to 10 million by 2050 20:2313 Feb, 2026
  • Massive drone attack on Odessa port and energy facilities 20:1013 Feb, 2026
  • NATO will become more European-led: Rutte 20:0413 Feb, 2026
  • Next Ukraine-Russia-US meeting to be held in Geneva 19:5813 Feb, 2026
  • I'm thinking about what public need and purpose this money should be directed to: Prime Minister on 'Zayed' Award 19:2613 Feb, 2026
  • Shoigu on US plans to build small modular reactors in Armenia 18:3113 Feb, 2026
  • Negotiations continue between Moscow and Yerevan on renovation of two sections of Armenia’s Railway: Khandanyan provides details 18:0313 Feb, 2026
  • Iran welcomes Armenian Prime Minister's peace-oriented policy: Ambassador to Pashinyan 17:3013 Feb, 2026
  • Estonia moves its ambassador from Georgia to Armenia 17:2613 Feb, 2026
  • Suren Papikyan received Chargé d'Affaires of the United States Embassy in Armenia 17:1113 Feb, 2026
  • US State Department on relations with Georgia 17:0613 Feb, 2026
  • Nearly 1.6 million more illegal immigrants in US are subject to deportation: Todd Lyons 16:4513 Feb, 2026
  • US confirms withdrawal of forces from Al-Tanf military base in Syria 15:5513 Feb, 2026
  • EU mission played significant role in building and consolidating peace: Security Council Secretary 14:4813 Feb, 2026
  • Trump plans to announce Gaza funding plan, troops at first Board of Peace meeting: Reuters 14:1313 Feb, 2026
  • EU leaders agree on economic reform needs but disagree on financing 13:5613 Feb, 2026
  • US Embassy’s Senior Defense Official Colonel Matthew Crowe presented Legion of Merit to Colonel Arman Mkrtchyan 13:2413 Feb, 2026
  • Trump has repealed one of the key climate protection norms in US 12:5913 Feb, 2026
  • Armenia expects a boom in American investments: Bloomberg article on Vance's visit 12:4713 Feb, 2026
  • Sieges in Minnesota ended: AP 12:1213 Feb, 2026
  • Rubio noted that his trip to Europe does not include visit to Russia 11:3313 Feb, 2026
  • Azerbaijani civil society representatives arrived in Armenia via delimitated land border 11:0413 Feb, 2026
  • Dialogue with civil society is an important component of foreign policy: Mirzoyan 22:4112 Feb, 2026
  • February 12 in 60 seconds 21:3312 Feb, 2026
  • Stop the war, don't send money to Ukraine, suggests Orban to boost EU's economy 20:0312 Feb, 2026
  • Rutte praises Ukraine's resilience, says Russia suffers 'incredible' losses 18:5212 Feb, 2026
  • Overchuk says Moscow and Yerevan to start talks on restoring two railway sections in Armenia 17:5212 Feb, 2026
  • We were pleased to welcome leaders from U.S. tech companies to Armenia, U.S. Embassy 13:4312 Feb, 2026
  • US and Iran showing flexibility on nuclear deal, says top Turkish diplomat 13:3212 Feb, 2026

All rights reserved

© 2026 1lurer.am

26, G․ Hovsepyan Str., Yerevan, Nork 0011

+374 10 650015