ARMENIAN ECONOMIC GROWTH 9,3 PERCENT

According to the operative data of National Statistical Service of Armenia, the economic growth of Armenia in January-April was 9,3 percent, and GDP exceeded 696 billion drams.
Construction continues to have the highest growth - 16,8 percent. Industrial output volume increased by 0,1 percent. 0,7 percent growth is recorded in industrial sphere without energy. Electricity production increased by 3,9 percent.
Volume of gross agriculture output increased by 1,3 percent in January-April.
The growth recorded in services sphere is the second after construction - 11,2 percent, and retail trade turnover increased by 3,5 percent.
External trade turnover increased by 28,3 percent to 1 billion 531 mln dollars. Export volumes increased by 4,4 percent to 337 mln dollars. Import increasing by 37,2 percent was 1 billion 194 mln dollars. The negative balance was 857 mln dollars.
An interesting index, though the cost of the Armenian dram was stable during the last four months, the volumes of the export increased a little. Consequently, it is not right to condition the decrease in export only by evaluation of Armenian dram. It is most of all conditioned by business environment, taxation and customs system, transport and several other issues.
The average monthly nominal wage was 86 thousand drams in March; in private sector - 107 thousand drams, in public - 61 thousand drams.
The average growth of wages compared with the same period of last year was 22 percent.
Consequently, the economic growth in Armenia decreased since February and is not two-digit any more.
Naturally, the destabilization conditioned by post-election incidents had its influence on the economy and it will inevitably influence all of us.
It's time those who believed in "saviors" understood in whose hands they play.
By Ara Martirosian, translated by L.H.

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