Tweet
EDB RECORDED AN INDUSTRIAL PRODUCTION GROWTH DECLINE IN ALL THE CIS COUNTRIES, BESIDES ARMENIA AND TAJIKISTAN
ARMENPRESS
30 July, 2012
YEREVAN
Yerevan, July 30, ARMENPRESS: The CIS kept up the past paces of
its economic growth in the first quarter of the current year. As
"Armenpress" was informed by the expert of the Eurasian Development
Bank, Mikhail Mzareulov, the economic growth amounted to 4.65% in
January-March of last year in comparison with the same period of 4.67%
in 2011. At the same time the rate of the development of the global
economy was 0.1%.
The experts mention that such a rate is explained by the accelerated
economic growth of Russia, which reached from 4.1% to 4.9%. A serious
decline of growth (6.9% to 3%) is noticed in the countries exporting
industrial products- Ukraine, Belarus, Uzbekistan; and a sharp economic
decline (6.8%) in Kirgizstan. Industrial production growth retardation
was observed in all the countries of the region, with the exception
of Armenia and Tajikistan. At the same time a certain activization is
noticed in the trade, services, construction, and industrial export
sectors, which talks about the consumer and investment activity.
In the first quarter of the year, as well as the preceding period,
despite the retardation of the growth rates, oil international prices
growth in foreign trade provided the profit for Russia, Kazakhstan,
Azerbaijan and Turkmenistan. Energy resources importing countries,
particularly Tajikistan, Kyrgyzstan, Moldova and Armenia, balance
their trade negative balance through the money transfers received
from Abroad.
One of the specifications of the period was the low inflation rate.
Totally the inflation in the region was 2.4% (except for Belarus).
Records on individual countries' economic development were also
included in the "CIS macromonitor". It is particularly mentioned that
Azerbaijani GDP index increased by only 0.5% in the first quarter of
the year in comparison with the same period of last year. Despite the
annual 7.7% increase in oil and gas sector the decrease in economic
growth had some influence on the index of economic growth. In Armenia
GDP maintained the 2011 second term dynamics. This indicator of last
year has exceeded the level of 4.9%.
Metallurgical industry (16.6%) was foundational. At the same time
the inflation continued to fall reaching the lowest index in the
last six years annually 0.5%. Significant progress was recorded
in reducing the budget deficit process reaching 0.2%. However, the
experts mention that in case of the steady decline in metal prices,
the country will be deprived of growth factors which can make the
country's economy more vulnerable to external negative factors.
The Eurasian Development Bank is an international financial
organization founded in 2006 by Russia and Kazakhstan.
ARMENPRESS
30 July, 2012
YEREVAN
Yerevan, July 30, ARMENPRESS: The CIS kept up the past paces of
its economic growth in the first quarter of the current year. As
"Armenpress" was informed by the expert of the Eurasian Development
Bank, Mikhail Mzareulov, the economic growth amounted to 4.65% in
January-March of last year in comparison with the same period of 4.67%
in 2011. At the same time the rate of the development of the global
economy was 0.1%.
The experts mention that such a rate is explained by the accelerated
economic growth of Russia, which reached from 4.1% to 4.9%. A serious
decline of growth (6.9% to 3%) is noticed in the countries exporting
industrial products- Ukraine, Belarus, Uzbekistan; and a sharp economic
decline (6.8%) in Kirgizstan. Industrial production growth retardation
was observed in all the countries of the region, with the exception
of Armenia and Tajikistan. At the same time a certain activization is
noticed in the trade, services, construction, and industrial export
sectors, which talks about the consumer and investment activity.
In the first quarter of the year, as well as the preceding period,
despite the retardation of the growth rates, oil international prices
growth in foreign trade provided the profit for Russia, Kazakhstan,
Azerbaijan and Turkmenistan. Energy resources importing countries,
particularly Tajikistan, Kyrgyzstan, Moldova and Armenia, balance
their trade negative balance through the money transfers received
from Abroad.
One of the specifications of the period was the low inflation rate.
Totally the inflation in the region was 2.4% (except for Belarus).
Records on individual countries' economic development were also
included in the "CIS macromonitor". It is particularly mentioned that
Azerbaijani GDP index increased by only 0.5% in the first quarter of
the year in comparison with the same period of last year. Despite the
annual 7.7% increase in oil and gas sector the decrease in economic
growth had some influence on the index of economic growth. In Armenia
GDP maintained the 2011 second term dynamics. This indicator of last
year has exceeded the level of 4.9%.
Metallurgical industry (16.6%) was foundational. At the same time
the inflation continued to fall reaching the lowest index in the
last six years annually 0.5%. Significant progress was recorded
in reducing the budget deficit process reaching 0.2%. However, the
experts mention that in case of the steady decline in metal prices,
the country will be deprived of growth factors which can make the
country's economy more vulnerable to external negative factors.
The Eurasian Development Bank is an international financial
organization founded in 2006 by Russia and Kazakhstan.