ARMENIA HAS RESOURCES FOR MAINTAINING TWO-DIGIT ECONOMIC GROWTH RATES IN COMING YEARS, GAGIK MINASIAN SAYS

Noyan Tapan
Jun 12 2007

YEREVAN, JUNE 12, NOYAN TAPAN. Armenia has resources for maintaining
its two-digit economic growth rates in the coming years. Gagik
Minasian, chairman of the RA National Assembly Standing Committee
of Financial, Credit and Budgetary Issues, RPA member, stated this
during the June 12 discussion with Khachatur Sukiasian, NA deputy,
nonpartisan, founder of Sil Concern.

According to him, the increase in tax collection and in the ratio of
taxes to GDP indicates the availability of such resources. G. Minasian
said that the latter index considerably grew in the first quarter of
2007 – by 15.7%.

In his opinion, improving the management of Armenian enterprises may
also help keep the economic growth rates.

K. Sukiasian noted that in case of promoting its exports, Armenia
will be able to miantain recent years’ economic growth rates for the
next 15-20 years. He attached importance to the creation of Armenian
products’ brands and their export to foreign markets just like in
case of Armenian brandy.

Such possibility exists, in particular, with respect to apricot,
rose hip, natural building stone, mineral waters, natural juices and
non-ferrous metals.

The founder of Sil Concern underlined the importance of securitization
of Armenian markets’ capitals, which will allow to attract more
domestic and foreign investments.