Significant Improvement in Karabakh’s Economy

STEPANAKERT (Armenpress–Noyan Tapan)–During a press conference on July 26–Republic of Nagorno-Karabakh Prime Minister–Anoushavan Danielian–announced that that the average monthly salary in Karabakh has increased from 23,000 Armenian drams to 28,000 (approximately $50) during the last three years.

The prime minister also announced that the minimum monthly salary has doubled to 10,000 drams and the economy of the republic has increase by over 20%.

According to Danielian–the most noticeable improvement during the last several years took place within the sphere of foreign investmen’s in Karabakh.

In accordance with international trade standards–over $25 million has made its way into the republic from investors from the United States–Australia–France–Belgium–Switzerland–Russia–Iran–England–Spain–Lebanon and other countries.

Danielian noted that most of the capital was invested in the carpet industry–the production of watch manufacturing accessories and diamond cutting and refining.


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