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.<\/p>\n
He said that the four-percent economic growth recorded in Jan-July 2010 was impacted by considerable decline in agriculture.<\/p>\n
However, other sectors of the national economy are rallying after the crisis.<\/p>\n
Industry showed 11.4% growth. Services sector grew 6.1%. Mining, metallurgy, jewellery, engineering tools, instrument engineering and chemical industries reached 20% growth.<\/p>\n
This shows substantial changes in GDP, Sargsyan said.<\/p>\n
\u201cThe growing share of services in GDP enlarges tax receipts,\u201d the premier said. \u201cThe tax ratio to GDP has improved over the seven months.\u201d<\/p>\n
Sargsyan also said that the Jan-July tax, customs and social receipts exceeded the planned budget indicators.<\/p>\n
It means the country will be able to retain macroeconomic stability and lower the ratio of the budget deficit to GDP.<\/p>\n
The premier also pointed out that unemployment rate started going down as wages in both state and private sectors are kept pegged.<\/p>\n
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).<\/p>\n
Armenia\u2019s average unemployment rate stood at 7% in June, remaining unchanged, compared with the same month a year earlier.<\/p>\n
The country has 84,800 registered unemployed people.-0—<\/p>\n","protected":false},"excerpt":{"rendered":"
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