OFFICIAL STATS: INDUSTRIAL OUTPUT, IMPORTS, EXPORTS FURTHER DOWN IN FEBRUARY

ECONOMY | 25.03.15 | 16:17

By SARA KHOJOYAN
ArmeniaNow reporter

Although during the first two months of this year economic activity
grew, nevertheless, in certain important economic spheres of the
country decline was registered which speaks of negative development.

Specifically, according to the National Statistical Service (NSS),
in January-February 2015, as compared to the same period of last year,
industrial output, the production of electricity, as well as internal
and external sales decreased.

The decline of the industry within two months made 1.8 percent,
the volume of electricity production decreased by 16.6 percent. 6.9
percent less sales were realized internally, and the decline of
foreign sales made 27.7 percent, by the way both import and export
decreased by 20 percent.

Meanwhile, consumer prices grew by 4.8 percent, which, however,
the Central Bank (CB) sees as manageable, and thus, on Tuesday the
interest rate of refinancing was left at the same level – 10.5 percent.

“[The CB] Council thinks that in the coming months 12-month-long
inflation will be kept near the higher allowed limit,” the financial
regulator said.

“In international markets of main materials and food products, as it
was expected, inflationary trends will persist,” CB representatives
added.

It is noteworthy that another stability criteria index in Armenia
declined. According to the CB official data, in February external
reserves of the country decreased by $91 million, reaching $1.26
billion. During the whole last year external reserves declined by
$853 million, which was more than 40 percent of the whole reserves.