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YerevanReport.com, Armenia
Sept 17 2010
Armenian President Sees Positive Economic Indicators for 2010
Sep 17th, 2010 | Category: Economy, Lead Article
By Alexander Tagvoryan
YEREVAN, September 17 - The Republic of Armenia will complete the year
with positive economic indicators, but it is unlikely to be able to
make up all the losses from 2009, the President of Armenia Serge
Sarkisian said.
`Unfortunately, everything isn't going smoothly now, too. Nature
doesn't pamper us, and though we had a 12 percent growth in industry,
we also had a 25 percent recession in agriculture. This year, we lost
the entire crop of apricots and other fruits. There were some problems
with grain, too, but, nevertheless, we had nearly a 7 percent growth
during these six months. And I think that we will complete this year
with positive indicators, although we are unlikely to be able to make
up all the losses of 2009,' said the Armenian President during his
interview with the Ukrainian newspaper `Profile.'
According to Sarkisian, the global financial crisis has made many
changes in the plans of the republic.
`For almost 10 years, the economy of the Republic of Armenia was
measured with in the double-digits. Our national debt was small, and
the macroeconomic performance was very good. But the isolated
position, the absence of favorable transport infrastructure has always
been a problem, and, unfortunately, our economy has not been
sufficiently diversified,' he said.
Sarkisian also said that the economic indicators in Armenia grew
thanks to the building construction and the funds that come from
Armenians living abroad.
`Because of the effects of the global crisis and the fact that many
people panicked, we had a very heavy blow to the economy and lost 14
percent of our GDP. But even in this situation, we didn't cancel even
a single social program, and there was no delay for pensions, social
benefits and salaries,' said the president.
`Maybe the fact that Armenia has had a market economy for a long time
and has a more or less favorable investment climate, the stability of
the banking system and the spirit of enterprise of Armenians help us
to make up the losses of the previous year,' he added.
From: A. Papazian
Sept 17 2010
Armenian President Sees Positive Economic Indicators for 2010
Sep 17th, 2010 | Category: Economy, Lead Article
By Alexander Tagvoryan
YEREVAN, September 17 - The Republic of Armenia will complete the year
with positive economic indicators, but it is unlikely to be able to
make up all the losses from 2009, the President of Armenia Serge
Sarkisian said.
`Unfortunately, everything isn't going smoothly now, too. Nature
doesn't pamper us, and though we had a 12 percent growth in industry,
we also had a 25 percent recession in agriculture. This year, we lost
the entire crop of apricots and other fruits. There were some problems
with grain, too, but, nevertheless, we had nearly a 7 percent growth
during these six months. And I think that we will complete this year
with positive indicators, although we are unlikely to be able to make
up all the losses of 2009,' said the Armenian President during his
interview with the Ukrainian newspaper `Profile.'
According to Sarkisian, the global financial crisis has made many
changes in the plans of the republic.
`For almost 10 years, the economy of the Republic of Armenia was
measured with in the double-digits. Our national debt was small, and
the macroeconomic performance was very good. But the isolated
position, the absence of favorable transport infrastructure has always
been a problem, and, unfortunately, our economy has not been
sufficiently diversified,' he said.
Sarkisian also said that the economic indicators in Armenia grew
thanks to the building construction and the funds that come from
Armenians living abroad.
`Because of the effects of the global crisis and the fact that many
people panicked, we had a very heavy blow to the economy and lost 14
percent of our GDP. But even in this situation, we didn't cancel even
a single social program, and there was no delay for pensions, social
benefits and salaries,' said the president.
`Maybe the fact that Armenia has had a market economy for a long time
and has a more or less favorable investment climate, the stability of
the banking system and the spirit of enterprise of Armenians help us
to make up the losses of the previous year,' he added.
From: A. Papazian