ARMENIAN GOVERNMENT SET PRIORITIES FOR DEVELOPMENT OF MAIN ECONOMIC SPHERES
ARKA News Agency, Armenia
June 26 2007
YEREVAN, June 26. /ARKA/. The Armenian Government set priorities for
development of the main economic spheres, says the government action
program for 2008-2012 submitted to the parliament Tuesday.
The Armenian Government attached importance to the increasing of the
share of industry in the structure of economic growth, as well as to
the obtaining of a status of industrial country for Armenia.
The document stresses the importance of implementing industrial
export-oriented policy. The Armenian Government will support the
development of new and technologically advanced spheres and will set
favorable conditions to attract investments to the industrial sector.
The program also attaches importance to complex development of chemical
and metal mining industry. The first priority in the Armenian industry
is the development of metal mining industry to facilitate the long-term
development of the country’s economy, says the program. According
to the program, administrative and legislative conditions should be
improved to take the advantage of the huge potential of metal mining
industry in Armenia.
The government will remain focused also on applying products and
services of IT sector and forming "an electronic community" in Armenia
due to the great role IT sector plays in economic progress of the
country, as well as in increasing the efficiency and maintaining the
competitiveness on world markets.
Among key spheres the Armenian Government considered also agriculture
providing about 18% of GDP and 45% of employment in the country. The
program points out that the share of agriculture in GDP decreased in
the recent years due to advanced rates of growth of construction and
trade spheres, but the considerable share of agrarian sector in the
country’s economy is to remain considerable and to make 14% of GDP
in 2012.
Taking into account the peculiarities of the sphere, the government
intends to conduct balanced policies – increase the efficiency through
private and state investments on one hand and implement target support
to small producers on the other hand.
Consistent efforts are to be taken to eliminate the hindrances to
rural credits and to set preconditions for introduction of insurance
against climate risks.
The program envisages a considerable increase in the state investments
in construction and improvement of rural roads. All the settlements
in Armenia are expected to have at least one normal road connected
them to international roads.