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—
