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DECLINE OF CONSTRUCTION SECTOR MAIN OBSTACLE TO ECONOMIC GROWTH IN ARMENIA
ITAR-TASS, Russia
November 2, 2013 Saturday 11:40 PM GMT+4
YEREVAN November 2
- The main reason for this year's economic slowdown in Armenia is the
decline of the construction industry, Prime Minister Tigran Sargsyan
said on Saturday, November 2.
"The main obstacle to economic growth is the construction sector, the
share of which in the gross domestic product is 12 percent," he said.
In the first eight months of this year, the industry's performance
indicators fell by 8.5 percent.
"Construction will be one of the government's priorities in 2014,"
the prime minister said, referring specifically to housing purchases
with mortgage loans and the construction of economy class housing.
At the same time, Sargsyan noted increased export and improved quality
of products in the processing industry and stressed that reforms to
improve the business environment in the country would continue.
Armenia rose three slots in this year's World Bank Doing Business
annual survey to 37th place.
ITAR-TASS, Russia
November 2, 2013 Saturday 11:40 PM GMT+4
YEREVAN November 2
- The main reason for this year's economic slowdown in Armenia is the
decline of the construction industry, Prime Minister Tigran Sargsyan
said on Saturday, November 2.
"The main obstacle to economic growth is the construction sector, the
share of which in the gross domestic product is 12 percent," he said.
In the first eight months of this year, the industry's performance
indicators fell by 8.5 percent.
"Construction will be one of the government's priorities in 2014,"
the prime minister said, referring specifically to housing purchases
with mortgage loans and the construction of economy class housing.
At the same time, Sargsyan noted increased export and improved quality
of products in the processing industry and stressed that reforms to
improve the business environment in the country would continue.
Armenia rose three slots in this year's World Bank Doing Business
annual survey to 37th place.