MINISTER IS WORRIED BY DECLINING EXPORTS
On July 8 the minister of economy of Armenia Nerses Yeritsyan presented the economic indices for the first and second quarters in a news conference at the press hall of the News Armenia agency. He said the economic growth in the first five months was 9.8 percent, which he thinks is rather high, and he thinks that the index for June which will be calculated soon will also be high. Nerses Yeritsyan noted that the inflation which was high in the beginning of the year has been restrained through a monetary and fiscal policy. Besides, prices stopped growing or even declined. “The growth of salary and income remains progressive and twice exceeds at least the economic growth, and considerably exceeds the economic growth plus inflation, it exceeds by ten percentage points,” the minister says. He says building remains the main moving force of the economy, which is both good and worrying because diversification of the economy remains a serious problem. Nerses Yeritsyan thinks it is not so worrying that the volume of imports has grown compared with exports. “The foreign trade balance also reflects the tendencies of development of this stage, which I have noted for a number of times. In other words, we are now in a stage of intensive investments, and I have statistics of growth of separate products, those are mainly capital-generating goods rather than consumer goods or food,” Nerses Yeritsyan says. However, he thinks that the slow rate of export is worrying. According to the minister, it is necessary to spur new kinds of investments to spur exports, therefore the government is using the cluster principle to develop different branches of economy, especially small and medium-sized businesses not to let enterprises alone because small and medium-sized businesses are unable to get major investments alone.
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On July 8 the minister of economy of Armenia Nerses Yeritsyan presented the economic indices for the first and second quarters in a news conference at the press hall of the News Armenia agency. He said ...GOLDEN APRICOT LAUNCHES NEW COOPERATION
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