ARMENIAN SMALL AND MEDIUM-SIZED BUSINESSES REPORT 40 PERCENT INPUT INTO GDP
Armenpress
Dec 25 2006
YEREVAN, DECEMBER 25, ARMENPRESS: A senior official of the Armenian
National Center for Development of Small and Medium-Sized Businesses
predicted today that the share of small and medium-sized businesses
in the country’s overall GDP this year would grow from 39.8 percent
in 2005 to 40 percent.
The head of the center, Ishkhan Karapetian, said this will be two
times more than in 1999. According to approximate estimates, the
share of small and medium-sized businesses in Armenian exports this
year would rise to 17 percent from 16.4 in 2005.
The government of Armenia has released this year 350 million drams from
its budget to give a boost to development of small and medium-sized
businesses.
Ishkhan Karapetian said another 110 million in aid came from
international organizations and local authorities.
He said the Center provided credit guarantees to 87 companies in the
amount of 342 million drams securing a total of 628 million drams
credit package. He said the Center has provided overall 776 million
drams worth credit guarantees.
The average credit amount was 7.2 million drams and the amount of
average credit guarantee offered by the Center was about 4 million
drams at an average 15.5 percent interest rate. He said the companies
which received support created 348 new jobs.
Thirty-four percent of these companies deal with industry, 25 percent
render services, 37 percent are engaged in businesses and 4 percent
in construction.