Share of SME in Armenia GDP 40% in H1/04

[Chmshkian Vicken]

SHARE OF SPHERE OF SMALL AND MEDIUM ENTERPRISES IN RA GDP MAKES 40% IN
FIRST HALF-YEAR

YEREVAN, August 6 (Noyan Tapan). According to the preliminary data,
the share of the sphere of the Small and Medium Enterprises (SME) in
RA GDP made about 40% in the first half of 2004. Over 4,700 new
entities of SME with about 11,000 jobs were registered during the
indicated period. RA Minister of Trade and Economic Development Karen
Chshmaritian said during the August 6 press conference that a total of
over 70 mln drams of guarantee sums (about 127,000 dollars) were
allocated to 2,500 companies with the purpose of contribution to the
sphere of the small and medium enterprises. 60% of these sums fell on
the regions, which is explained by the fact of the absence of the
subject of security under credit. The RA Minister also said that the
SME Coordination Council was established with the purpose of the
coordination of programs on the improvement and development of the
policies in the indicated sphere. Representatives of the World Bank,
USAID, UNDP, OSCE are within this Council.