Wed, 22 October
18.1 C
Yerevan
USD: 382.51 RUB: 4.68 EUR: 443.18 GEL: 141.23 GBP: 509.20

Premier: Armenian Economy Rallying

YEREVAN, August 30. /ARKA/. Armenian Prime Minister Tigran Sargsyan, speaking Saturday at a meeting of the Board of Trustees of the National Competitiveness Foundation of Armenia, said that Armenian economy is recovering after the crisis, the governmental press office reports.

He said that the four-percent economic growth recorded in Jan-July 2010 was impacted by considerable decline in agriculture.

However, other sectors of the national economy are rallying after the crisis.

Industry showed 11.4% growth. Services sector grew 6.1%. Mining, metallurgy, jewellery, engineering tools, instrument engineering and chemical industries reached 20% growth.

This shows substantial changes in GDP, Sargsyan said.

“The growing share of services in GDP enlarges tax receipts,” the premier said. “The tax ratio to GDP has improved over the seven months.”

Sargsyan also said that the Jan-July tax, customs and social receipts exceeded the planned budget indicators.

It means the country will be able to retain macroeconomic stability and lower the ratio of the budget deficit to GDP.

The premier also pointed out that unemployment rate started going down as wages in both state and private sectors are kept pegged.

According to statistical reports, GDP grew 4% in Jan-July 2009, compared with the same period a year before, to AMD 1586.5 billion ($4.3 billion).

Armenia’s average unemployment rate stood at 7% in June, remaining unchanged, compared with the same month a year earlier.

The country has 84,800 registered unemployed people.-0—

spot_img

POPULAR

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

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

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

The UAE instead of Europe : why Armenia needs to change its approach to crypto regulation – EXCLUSIVE

The Armenian Forum on Cryptocurrency Assets, organized by the Cilicia Business Club, was recently conducted in Yerevan.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

LATEST NEWS

spot_imgspot_imgspot_img