July 29, 2011

PanARMENIAN.Net - The government program for economy development lacks
aggressive protectionism, according to Aram Kayfajyan , Director of
Armenbrok investment company.

"I would like to see the higher economy growth, especially in the field
of industry," Kayfajyan told PanARMENIAN.Net reporter. "In particular,
state structures should inform the businesses of the required demand
for goods beforehand," said the company Director adding that the
companies, in turn, being confident that they will be able to sell
production would start to produce more or set new production.

"State should have direct involvement in all possible fields and
realize state purchases from local producers even at high prices. That
will return to the budget in taxes, besides new job opportunities
will be created," Kayfajyan said.

A 2,3% growth in economic activity index in Armenia in June 2011 was
reported as compared to the same period in 2010. According to the
National Statistical Service, the economic activity growth was 9,6%
higher in June compared to May 2011. Inflation amounted to 8,5%
in June 2011 compared to the same period in 2010. Consumer prices
reduced by 1,4% in June as compared with May 2011.

The national budget envisages 4,6% GDP growth and 4% (1,5%) inflation
for 2011.

From: Baghdasarian