Tue, 29 July
29.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

Armenian economy stabilizing: MP

YEREVAN, June 30, /ARKA/. A senior member of the Armenian parliament  said today the economic situation will have stabilized this year. Speaking at a news conference, Vartan Bostanjian, a deputy chairman of a parliament  committee on economic issues, said  the economy last year was in the state of coma. According to him, the economy  is not going to suffer a similar drastic downturn any more.

According to official statistics, Armenia’s gross domestic product (GDP) rose 8.8 percent in the first five months of 2010 compared with the same period of the previous year. Officials had previously forecast 1.2 percent growth this year after GDP contracted by over 14 percent in 2009.

The construction and industrial sectors grew by 12.5 (108.8 billion Drams)  and 12.0 percent  (305.1 billion Drams) respectively in the first five months of the year. In nominal terms, GDP grew to 1.0 trillion drams ($2.7 billion). According to Bostanjian, the economic growth will be driven by construction, industry, mining and IT sectors.  ($1 – 368.11 Drams). -0-

spot_img

POPULAR

Fitch expects inflation in Armenia to remain within the target level until 2027

International rating agency Fitch expects inflation in Armenia to remain within the target level until 2027, although soft fiscal policy and the projected moderate weakening of the dram create certain risks.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Fitch forecasts Armenia to tighten fiscal policy after 2027

Fitch Ratings analysts forecast a tightening of fiscal policy by the republic's authorities in a new report on Armenia.

Armenia’s economy to stabilize on 5.5% growth trajectory in 2025 – EDB forecast

According to EDB forecasts, Armenia's economy will stabilize on a 5.5% growth trajectory with domestic demand remaining the main driver of development.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

LATEST NEWS

spot_imgspot_imgspot_img