RosBusinessConsulting, Russia
May 25 2005
Armenia’s economic growth higher than expected in 2004
RBC, 25.05.2005, Yerevan 09:26:33.In 2004, economic growth in
Armenia stood at 10.1 percent, up from 7 percent envisaged by the
monetary policy program of the Central Bank of the Republic of
Armenia, Tigran Sarkisyan, the Bank’s chairman, has stated delivering
the Central Bank’s report for 2004. Sarkisyan noted that the real GDP
growth rates couldn’t have kept the country’s remaining macroeconomic
indices unaltered. The latter deviated from target rates, since the
actual economic growth proved above expectations.
Sarkisyan also said that unprecedented growth of the country’s
agriculture turned out to be another important peculiarity in 2004.
The Central Bank’s chief pointed out that the sector accounted for
3.1 percentage points of the overall economic growth rate. The
service sector also made a considerable contribution of 4.3
percentage points. The building industry yielded 2.1 percentage
points. Simultaneously, industrial production accounted for 0.4
percentage points only, down from 2003, which can be linked to
structural changes in the sphere.