ARMENIA’S ECONOMY HAS STEPPED A STAGE OF RESTORATION, PM SAYS

Panorama.am
14:48 22/04/2010

"We can put it that with 5.5 percent GDP growth in the first quarter
of 2010, our economy has stepped a stage of restoration," Armenian
PM Tigran Sargsyan said referring to the information spread by the
Armenian National Statistical Service.

He noted 10 percent growth was observed in the sphere of industry,
about 10 percent – in the production of energy power, 3.2 percent –
in the agriculture. Despite 5.5 percent GDP growth, though, the sphere
of construction has suffered decline, PM said.

"On the one hand, it evidences about diversification of the economic
system and the decrease of dependability on the growth of construction
volumes, on the other hand, this means no private investments are
being directed to the sphere of construction yet. In 2008, 75 percent
of the construction activities was financed by private sector. Today,
however, no private investments are being made on newly constructed
objects," Tigran Sargsyan said.

Referring to the 60 percent growth of exporting scales, PM said that
the export is mainly conditioned by the increase of the volumes of
the mining industry export and the improvement of the world economic
indices.