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TWO-DIGIT ECONOMIC GROWTH CONTINUES
Lragir.am
26 July 06
The minister of trade and economic development Karen Chshmarityan
summed up the economic policy of Armenia and the main tendencies of
development on July 26, in some cases for the first quarter of 2006,
in other cases for the first half. He did not give a surprise. As
in the past several years, our tiger bounces on in two-digit and
three-digit indices.
Armenia had a 10 percent economic growth in the first quarter but
Karen Chshmarityan is hopeful that by the end of the year the economic
growth will go above 10 percent, because in the second half of this
year new companies will be operated, the old companies will be spurred,
such as RUSAL, Nairit, etc. The minister declined to say how many jobs
there are in Armenia, but he noted that there is a shortage of labor,
especially with vocational education and workers. This gap cannot be
filled in because of low salaries, ineffective forms of management,
money transfers from abroad.
According to Karen Chshmarityan, in the first half of 2006 the
income of the population grew by 117.4 percent, expenditure by
119.2 percent. Karen Chshmariyan explains non-desirable realities
by desirable realities. For instance, imports grew by 130.6 percent,
exports grew by only 107.6 percent. According to Karen Chshmarityan,
the reason is the revaluation of the dram and the dominance of quality
goods in imports. The revaluation of the dram, which has turned into a
disaster for out republic living on foreign money transfers will also
produce a positive result, the minister believes. Not now, of course,
but for "investments and industries the revaluation of the dram is
positive". As for investments, the minister of economic development
believes that there will be investments. In the first quarter of 2006
the amount of imported appliances, equipment grew. "Two companies
imported appliances for 70 million euros."
Karen Chshmarityan announces that the scientific industrial complex
grew by 189.4 percent, because "innovative activities are stimulated,
science-based economy is becoming a public demand." However, the
minister does not say why brain drain continues. Tourism also grew
in Armenia. It should be noted that 36.3 percent of tourists arrive
in Armenia on business, and only 22.1 percent come to Armenia for a
holiday. Tourism grew by 115.3 percent. And generally, the growth of
almost all the branches are three-digit. The least growth was in the
sphere of precious stones - 80 percent.
Lragir.am
26 July 06
The minister of trade and economic development Karen Chshmarityan
summed up the economic policy of Armenia and the main tendencies of
development on July 26, in some cases for the first quarter of 2006,
in other cases for the first half. He did not give a surprise. As
in the past several years, our tiger bounces on in two-digit and
three-digit indices.
Armenia had a 10 percent economic growth in the first quarter but
Karen Chshmarityan is hopeful that by the end of the year the economic
growth will go above 10 percent, because in the second half of this
year new companies will be operated, the old companies will be spurred,
such as RUSAL, Nairit, etc. The minister declined to say how many jobs
there are in Armenia, but he noted that there is a shortage of labor,
especially with vocational education and workers. This gap cannot be
filled in because of low salaries, ineffective forms of management,
money transfers from abroad.
According to Karen Chshmarityan, in the first half of 2006 the
income of the population grew by 117.4 percent, expenditure by
119.2 percent. Karen Chshmariyan explains non-desirable realities
by desirable realities. For instance, imports grew by 130.6 percent,
exports grew by only 107.6 percent. According to Karen Chshmarityan,
the reason is the revaluation of the dram and the dominance of quality
goods in imports. The revaluation of the dram, which has turned into a
disaster for out republic living on foreign money transfers will also
produce a positive result, the minister believes. Not now, of course,
but for "investments and industries the revaluation of the dram is
positive". As for investments, the minister of economic development
believes that there will be investments. In the first quarter of 2006
the amount of imported appliances, equipment grew. "Two companies
imported appliances for 70 million euros."
Karen Chshmarityan announces that the scientific industrial complex
grew by 189.4 percent, because "innovative activities are stimulated,
science-based economy is becoming a public demand." However, the
minister does not say why brain drain continues. Tourism also grew
in Armenia. It should be noted that 36.3 percent of tourists arrive
in Armenia on business, and only 22.1 percent come to Armenia for a
holiday. Tourism grew by 115.3 percent. And generally, the growth of
almost all the branches are three-digit. The least growth was in the
sphere of precious stones - 80 percent.