ARMENIAN MINISTER OF TRADE AND ECONOMIC DEVELOPMENT: INDUSTRY WILL RE-ASSUME ITS LEADING ROLE IN THE COUNTRY’S ECONOMY IN COMING YEARS

Noyan Tapan
Dec 26 2006

YEREVAN, DECEMBER 26, NOYAN TAPAN. According to forecasts of the RA
Minister of Trade and Economic Development Karen Chshmaritian, by the
results of 2006, Armenia’s industrial production (without diamonds)
will grow by 5% compared with 2005. The results of financial and
economic activities of over 200 companies, which underwent the
ministry’s monitoring in 11 months of 2006, show that the volume
of industrial prodiction (without diamond cutting) made 243.6 bln
drams (about 580 mln USD), exceeding by 4.4% the index of the same
period of last year. Industrial production of 261.1 bln drams was
sold against production of 247.9 bln drams last year (the growth
rate made 5.3%). Production of 163.4 bln drams was exported against
production of 151.1 bln drams in 2005 (the growth rate of 108.1%). In
K. Chshmaritian’s opinion, investments and the re-equipment process
in industry in 2006 have created good preconditions so that industry,
along with construction and the service sector – the currently leading
sectors) will re-assume its leading role in the country’s economy in
the coming years.