The annual increase of small and medium enterprises’ share in Armenia’s GDP was estimated at 1%, according to the Executive Director of Small and Medium Entrepreneurship Development National Center of Armenia (SME DNC).

As Tigran Harutyunyan told a September 14 news conference, SME are major contributors to Armenian economy development. “Positive shifts are obvious: at present, the share of S&M enterprises in Armenia’s GDP and exports makes up 43 and 18% respectively,” he noted.

In this context, Harutyunyan pointed out facilitation of report-related paperwork as well as a new possibility of opening a business online.