Armenia's Economy Minister Vahan Kerobyan Resigns

Armenia's Economy Minister, Vahan Kerobyan, announced his resignation on Facebook today. Kerobyan, who has been Economy Minister for over three years, expressed his gratitude for the opportunity to serve Armenia.

"I have worked with unwavering devotion, filled with love for every resident of Armenia. I have worked at least six days a week, on average from 8 am to 9 pm, with a total of 15-16 used vacation days over three years. I have lived every day of my work with the dominant desire to have a strong Armenia as soon as possible," stated Kerobyan.

In comparison to 2020, the GDP in 2023 rose by approximately 100% in US dollars and 50% in RA drams. The nation ascended from 112th place to 86th in terms of GDP per capita, surpassing countries like Azerbaijan and Belarus. The Ministry of Economy's budgeted programs also saw a substantial increase from 12.5 billion drams in 2019 to a 91 billion drams for 2024. Labor productivity, investment levels, and foreign trade all experienced an uptick.

"When I assumed the post on November 20, 2020, there was a high probability that I would stay there for only a few days or months; the probability of a change of power was very high. Despite numerous disagreements, I wanted to leave this job many times, but I subordinated myself to maximize the value of my service to my country. I thank the prime minister for this opportunity to serve my country," Kerobyan reflected.

It’s unknown at the moment who will replace the position of Minister of Economy.

We would like to remind our readers that just weeks ago, the Deputy Economy Minister was arrested in a corruption probe along with several others from the Ministry.