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Regnum, Russia
Jan 26 2007
Expert: Armenian president and prime minister are given `strained'
information on economic growth
The non-qualitative economic growth rate registered in 2006 will
remain in Armenia in 2007, economist Aduard Agajanov said at a news
conference today. According to him, not only high growth rates are
needed for development of the country, but quality of the growth.
Last year, generally high economic growth rate was provided by high
growth rates in construction. Weight of industry in the structure of
GDP decreases each year, and share of construction and agriculture
increases.
As a REGNUM correspondent informs, the economist also noted that
despite the fact that in 2006, economic growth rate totaled 13.5% in
Armenia, deficit of foreign trade turnover exceeded $1 bln. He said
that in 2004, GDP growth rate in Armenia totaled 10.1%, and foreign
trade turnover deficit increased by 7.6%, in 2005 GDP growth rate was
13.9% (with 28.4% for foreign trade turnover deficit), in 2006 GDP
growth rate totaled 13.5%, foreign trade deficit growth was 45%. `It
is a nonsense, it is absurd. There is no country in the world that
would show such indices,' Eduard Agajanov noted adding that there is
no country in the world either where foreign trade deficit doubled
within three years. The economist cast doubt on statements of the
Central Bank that thanks to remittances Armenia's balance of payment
remained positive and was about several hundreds million. `According
to statistical data, deficit of balance of payment in 2006 was $200
mln and the economic growth was 13.5%. If the statements of the
Central Bank are true, Armenia's economic growth should be 30%,' the
economist said.
He also noted that the Armenian president and the prime minister are
given `strained' information on economic growth, so they do not have
information on the actual situation in the country's economy.
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Content-transfer-encoding: 8BIT
Regnum, Russia
Jan 26 2007
Expert: Armenian president and prime minister are given `strained'
information on economic growth
The non-qualitative economic growth rate registered in 2006 will
remain in Armenia in 2007, economist Aduard Agajanov said at a news
conference today. According to him, not only high growth rates are
needed for development of the country, but quality of the growth.
Last year, generally high economic growth rate was provided by high
growth rates in construction. Weight of industry in the structure of
GDP decreases each year, and share of construction and agriculture
increases.
As a REGNUM correspondent informs, the economist also noted that
despite the fact that in 2006, economic growth rate totaled 13.5% in
Armenia, deficit of foreign trade turnover exceeded $1 bln. He said
that in 2004, GDP growth rate in Armenia totaled 10.1%, and foreign
trade turnover deficit increased by 7.6%, in 2005 GDP growth rate was
13.9% (with 28.4% for foreign trade turnover deficit), in 2006 GDP
growth rate totaled 13.5%, foreign trade deficit growth was 45%. `It
is a nonsense, it is absurd. There is no country in the world that
would show such indices,' Eduard Agajanov noted adding that there is
no country in the world either where foreign trade deficit doubled
within three years. The economist cast doubt on statements of the
Central Bank that thanks to remittances Armenia's balance of payment
remained positive and was about several hundreds million. `According
to statistical data, deficit of balance of payment in 2006 was $200
mln and the economic growth was 13.5%. If the statements of the
Central Bank are true, Armenia's economic growth should be 30%,' the
economist said.
He also noted that the Armenian president and the prime minister are
given `strained' information on economic growth, so they do not have
information on the actual situation in the country's economy.