Pashinyan: Armenia overfulfilled Budget Implementation Plan 'despite political twists and turns'

2018 was politically an unprecedented year for Armenia, with one presidential and five prime ministerial elections, early parliamentary and mayoral polls and, last but not least, the Velvet Revolution, Prime Minister Nikol Pashinyan said today, addressing the National Assembly.

Introducing the 2018 budget implementation statistics, the premier noted that despite the political volatilities, the government managed to maintain the macro-economic records stable and even secure a certain positive dynamics. “It isn’t probably possible to find a similar precedent in the world history to demonstrate that large-scale changes as these would have remained unaccompanied by economic shocks in virtually any country,” he said.

Pashinyan highlighted especially last year's economic growth of 5.2%. “It is important to emphasize, nonetheless, that the draft approved by the previous government, relied on 4.5% [as its ceiling]. That is to say, despite the global political twists and turns, [our] government did manage to exceed the plan outlined by the predecessors. With 2018 state budget being implemented, the Government does not have any unfulfilled obligations now”.

Pashinyan cited two major factors accounting for the macro-economic stability. “First, it is our great pleasure to note that certain accomplished institutions in Armenia did play their essential role in the period of the Velvet Revolution, managing to maintain stability regardless of the turmoil. This is very good news.

''The second reason,” he added, ''was that the revolution in Armenia was velvet indeed, 'velvet was in abundance' despite the repeatedly voiced calls for a much more hardline revolutionary tactics.”

Comparing government functions with multi-winged scales, Pashinyan further reaffirmed his team's strong commitment to maintaining the balance in any situation.

He admitted that a twofold or fourfold increase in the number of arrested or detained individuals in Armenia ''would have inevitably affected the economy'', ruling out the increasingly positive records observed in the first quarter of this year.

''Thanks to the balanced policies, we managed to record a 7.1% GDP growth as of the first quarter. This, notably, is not an economic activity indicator but rather the GDP summary record,'' he said, noting that the economic activity was 9.2% in April alone.

As an essential factor contributing to progress, the premier also highly praised the collaborative work between the parliament and the executive.