ARMENIAN GOVERNMENT WILL CONTINUE TAKING CREDITS: TIGRAN SARGSYAN

Tert.am
22.04.10

Armenian economy has entered a recovery stage, Armenia’s Prime Minister
Tigran Sargsyan said at a government session today, analyzing the
macroeconomic indicators of the first quarter of 2010.

According to Sargsyan the first quarter has seen a 5.5% economic
growth and that there has been growth in other sectors too, namely,
industry, agriculture, services and electricity production.

Sargsyan went on saying that the macroeconomic indicators show that
the economy has seen a diversification which can be proved by the
downfall in the construction sector, whereas economic growth in
general was secured by this sector in previous years.

On the other hand the fall in construction testifies to the fact that
no private investments have been made in the sector.

Tigran Sargsyan also said that the pace of current economic growth
necessitates reviewing the tax base and that the Ministry of Finance
has been instructed to design and present a new tax base.

Further the prime minister mentioned that Armenia’s foreign debt will
not exceed the indicator stipulated by the law and that the government
will continue talks over obtaining credits in the future.