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An 8.7 percent increase in economic activity was recorded in January-September, due to growth in key services: trade and industry.

Nominal salary increased by 6.6 percent, amounting to 280 . 256 AMD. Public sector salaries continued to remain lower than those in the private sector. The number of employees increased by 5% over the nine months to 752.288 people, due to increase in the number of employees in the trade, education and construction spheres.

The RA Minister of Finance Vahe Hovhannisyan informed these and other data at the regular sitting of the NA Financial-Credit and Budgetary Affairs, presenting the certificate on the implementation of the 2024 state budget for nine months .

Regarding the expenditures and revenues, Vahe Hovhannisyan noted that a slowdown in the growth rate of state budget revenues was recorded during the reporting period, due to a certain slowdown in the growth rates of tax bases, in particular, imports directed towards domestic consumption of taxable consumption and profits of organizations. “However, we notice that the 6.8 percent increase in revenues is consistent with the economic developments that have been recorded during this period and, naturally, is higher than the indicators for the same period in 2023. We also have significant growth in expenses.,” the Minister informed, adding that good indicators have been registered on that part.

Referring to the fourth quarter of the 2024 state budget, Vahe Hovhannisyan said that economic growth will be around plus-minus 5 percent. According to the Minister, this is due to a certain slowdown in economic activity in the last months of the reporting year.