ARMENIAN ECONOMY GROWS MORE THAN 13% IN 2006 – PRESIDENT
Interfax, Russia
Dec 26 2006
YEREVAN. Dec 26 (Interfax) – The Armenian economy grew more than 13%
in 2006, Armenian President Robert Kocharian said.
The year 2006 was one of the most fruitful for the country, he said
at a meeting with entrepreneurs on Monday. Construction and trade
attributed the most to economic growth and this made it possible to
completely fulfill the state budget, he said.
"Last year’s and this year’s economic growth is making it possible to
form a socially-targeted budget," Kocharian said. "We are increasing
spending every year on the social sector, for health, education and
to provide for a stable growth in wages. Next year we are planning
a 20% growth in budget revenue and it will grow 30% for several
sectors, such as science and education. Capital spending aimed at
developing infrastructures has grown significantly, which is a result
of an increase in the quality of life and the creation of necessary
conditions for economic activity," he said.
Among the problems in the country, Kocharian pointed out the income
gap between the rich and the poor and the difference in the rate of
development in Yerevan compared with the rest of the country. "We must
resolve the first problem by a stronger social policy and concentrate
on developing small and mid-sized business. Resolving the second
problem is connected with large budget transfers to the regions,"
he said.