Analyst: 65% of Armenia household expenses are food expenses

Analyst: 65% of Armenia household expenses are food expenses

YEREVAN. – The daily consumption of milk in is at least 20ml, and the consumption of bread—450 grams, which is surprising because in many developed countries, the daily consumption of milk is on average 200ml. Armen Poghosyan, Chairman of the Consumers’ Union of Armenia, stated this during a press conference on Tuesday.

According to him, the aforesaid bespeaks the low purchasing power of Armenia’s population. “Sixty-five percent of household expenses in Armenia are food expenses, which is a catastrophic indicator compared to developed countries. If we add the state services to that 65 percent, it will be another 30 percent. As for prices, according to our estimates, fruit prices have increased by 5 to 10 percent compared to last year” said the analyst.

Also, Poghosyan recalled the words of Prime Minister Nikol Pashinyan, who had stated that there was a significant growth in Armenia’s economy, but now it has been hindered by the coronavirus. “However, the population did not feel the changes even then. Besides, the export and import balance registered a 3-percent negative indicator before the epidemic,” he added.

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2020-08-18T07:31:15-05:00August 18th, 2020|Categories: Economy|Tags: , |
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