INDUSTRIAL PRODUCTION WILL AGAIN INCREASE, MINISTER OF TRADE AND ECONOMIC DEVELOPMENT CONSIDERS

YEREVAN, JULY 27, NOYAN TAPAN. A 0.4% decrease of industrial
production in the first six months of this year in Armenia is
temporary and there are preconditions for registering a 5% growth by
the results of the year, as compared with 2005. RA Minister of Trade
and Economic Development Karen Chshmaritian said this at the July 26
press conference.

In his words, the work of the Glass World plant producing glass
containers that opened recently, the relaunching of the RusAl-ArmenAl
foil plant in September, the active work of the Nairit Plant, the
expected growth of electricity generation connected with increase of
exports volumes will contribute to this growth.

It was mentioned that it is planned to release at least 3000 tons of
aluminium foil at RusAl-ArmenAl, 8 thousand tons of rubber at Nairit
Plant in 2006.

The Minister clarified that decrease of industrial production in the
first six months was conditioned by 20% reduction of production of
diamond-cutting sphere greatly depending on international markets. In
his words, three-four years ago such reduction of this sphere’s
production could have a serious negative impact on both industry and
GDP, whereas at present this impact is compensated by growth of other
branches’ production.