GDP growth 9.9% in Armenia in Jan 2008 with 7% average growth in CIS

YEREVAN, March 7. /ARKA/. Growth of Gross Domestic Product (GDP) was at
9.9% in Armenia in January 2008 against January 2007, which is the
second indicator among CIS countries, the CIS (Commonwealth of
Independent States) Statistical Committee reported.

According to the report, economic growth trends recorded last year were
maintained in January 2008. But slow-down was recorded in growth rates
of the basic macroeconomic indicators as compared with the relatively
high basis of the previous year. The highest slow-down rates were
recorded in production, particularly in Kazakhstan, Russia and Ukraine.
GDP growth in CIS countries averaged 7% in January against January last
year (10% in January 2007); industrial production grew by 5% (against
10%), cargo transportation ` by 4% (against 8%) and retail turnover `
by 15% against 15%.

The Statistical Committee also reports that reducing rates are recorded
in January 2008 against December last year due to reduction in number
of working days and expected annual decrease in business activity in
the beginning of the year.

High economic growth indicators were maintained in Azerbaijan (11.3%);
relatively low economic growth indicators were recorded in Tajikistan `
1.5%. According to the Statistical Committee, economic growth averaged
7% in the CIS.

According to the report, in GDP growth Azerbaijan and Armenia are
followed by Belarus (8.3%), Russia (7.9%, in terms of basic economic
activities), Kyrgyzstan (7.4%), Ukraine (4.9%), Kazakhstan (3.8%, in
terms of basic economic activities.

No data are provided for Uzbekistan, Georgia and Turkmenistan. N.V. `0–

From: Emil Lazarian | Ararat NewsPress