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Armenia's economic growth makes 139% in 2003

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  • Armenia's economic growth makes 139% in 2003

    ITAR-TASS News Agency
    TASS
    March 10, 2004 Wednesday

    Armenia's economic growth makes 139% in 2003

    By Tigran Liloyan

    YEREVAN


    The Armenian economic growth made 13.9 percent in 2003, Armenian
    President Robert Kocharyan said at a meeting with students of
    universities at Yerevan State University on Wednesday. The industrial
    production growth reached 18 percent, capital development -- 40
    percent and export -- 34 percent, the president emphasised.

    According to him foreign debts mostly for credits on easy terms
    amounted to 40-44 percent of Armenia's GDP that testifies to the
    solvency of the country.

    "The economic policy of the government should be aimed at the
    improvement of the life quality in the republic," Kocharyan remarked.
    Educational reforms, particularly the transition to the two-stage
    educational system are carried out so that the Armenian education
    would be recognised in Europe, he pointed out.
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