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GDP Growth In Nagorno-Karabakh Republic Projected At 9 To 11% For Ne

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  • GDP Growth In Nagorno-Karabakh Republic Projected At 9 To 11% For Ne

    GDP GROWTH IN NAGORNO-KARABAKH REPUBLIC PROJECTED AT 9 TO 11% FOR NEXT TWO OR THREE YEARS

    /ARKA/
    November 29, 2011
    STEPANAKERT

    STEPANAKERT, November 29. /ARKA/. GDP growth in Nagorno-Karabakh
    Republic is projected at 9 to 11% for the next two or three years,
    Karabakhi Prime Minister Ara Harutyunyan said Monday at a regular
    meeting of the government.

    He singled out industry, construction, energy and agriculture sectors
    for fast growth.

    The premier found it a great achievement that the republic's per-capita
    GDP has already reached Armenia's indicator.

    "Investments and deposits have considerably grown in the republic,
    and tax collection is satisfactory here," he said.

    He said that houses are being built here to solve various social
    groups' housing problems, and it is planned to do whatever necessary
    to make mortgage loans available to all.

    Harutyunyan said that 26% of the government budget is targeted for
    social area. These funds are earmarked for health care and education.

    "Although consumer price index will stand at 124% or close to it this
    year, basic subsistence grew a great deal to 140%," he said. "It could
    be higher, if food industry showed considerable achievements." ($1 -
    AMD 382.72).

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