Sun, 27 July
26.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

MP: Armenia’s economic growth to be close to 4% this year

YEREVAN, November 4. /ARKA/. Armenia will end this year with 3.8% to 4% economic growth, Vardan Ayvazyan, chairman of the National Assembly’s economic committee, said Thursday at a news conference.

In the 2010 government budget, economic growth is projected at 1.2%.

Speaking about the next year’s economic growth, he said that it is thought to be higher than the 4.6% projected in the 2011 draft budget.

Answering to ARKA New Agency, Ayvazyan said that construction, agriculture, industry consumer sectors ensured economic growth to the country between 2001 and 2008.

“Today we should diversify our economic structure,” he said. “In particular, economic growth would be higher in 2010, if the agriculture sector faced no precipitous downturn due to some factors, including bad weather.”

Among segments able to contribute to the country’s GDP growth, Ayvazyan singled out services and mining.

“I am convinced that the mining industry will enjoy a precipitous growth, since the current increase in world prices for metals will bring investments to this sector,” he said.

The lawmaker also said that diamond-cutting, jewelry, IT and processing industries are among the government’s top-priority focuses.

“One of the country’s most important objectives is to form an export-oriented economy,” he said. -0–

spot_img

POPULAR

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

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.

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.

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.

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.

LATEST NEWS

spot_imgspot_imgspot_img