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168 Zham: Where is Armenia's economy going?
10:21 * 22.07.14
Below is an excerpt from the paper's editorial
It is, of course, very early to evaluate the activities of [Prime
Minister] Hovik Abrahamyan-led cabinet given that they have worked for
less than six months. But because the official statistics reveal the
macro-economic records, it is hard to resist the temptation of making
comparisons.
Thus, the National Statistical Service yesterday published Armenia's
macro-economic indexes for the first six months of 2014. The economic
activity index was 3.5%, which is absolutely normal, with the dynamics
not having changed since last year. Almost all the sectors of economy
have recorded a growth. Thus, in the first two quarters of 2014, the
GDP in agriculture, development, trade turnover and services has
increased by 4%, 0.4%, 5.6% and 4.0%, respectively. The official
statistics suggests an increase in the population's purchasing power
too. The average salary has increased by 7.1%, with the consumer
prices being up by 4%.
With the salaries in the public sector also having increased since
July 1, next year's records are likely to be far more 'glowing' to
enable Abrahamyan to boast about the higher spending power. But not
everything is so wonderful, as a matter of fact, as the industries see
absolutely no growth. Despite the adopted strategy aimed at developing
the sector, it saw ... a zero percent growth in the first quarter.
This naturally causes harm to power producers and the electric
distribution networks. But given the 10% hike in the electric power
prices (starting from July 1), no one is likely to suffer any loss
(except the population). What causes the highest concerns is the trade
index. Everything seems normal at first sight, with the foreign
turnover being up by 1.0%. But while the outnumbering export rates
used to be treated as normal, the situation has changed again in light
of the lower exports. Thus, the export rate in the reporting period
grew only by 0.8% against the 1.1% increase in the imports.
Armenian News - Tert.am
10:21 * 22.07.14
Below is an excerpt from the paper's editorial
It is, of course, very early to evaluate the activities of [Prime
Minister] Hovik Abrahamyan-led cabinet given that they have worked for
less than six months. But because the official statistics reveal the
macro-economic records, it is hard to resist the temptation of making
comparisons.
Thus, the National Statistical Service yesterday published Armenia's
macro-economic indexes for the first six months of 2014. The economic
activity index was 3.5%, which is absolutely normal, with the dynamics
not having changed since last year. Almost all the sectors of economy
have recorded a growth. Thus, in the first two quarters of 2014, the
GDP in agriculture, development, trade turnover and services has
increased by 4%, 0.4%, 5.6% and 4.0%, respectively. The official
statistics suggests an increase in the population's purchasing power
too. The average salary has increased by 7.1%, with the consumer
prices being up by 4%.
With the salaries in the public sector also having increased since
July 1, next year's records are likely to be far more 'glowing' to
enable Abrahamyan to boast about the higher spending power. But not
everything is so wonderful, as a matter of fact, as the industries see
absolutely no growth. Despite the adopted strategy aimed at developing
the sector, it saw ... a zero percent growth in the first quarter.
This naturally causes harm to power producers and the electric
distribution networks. But given the 10% hike in the electric power
prices (starting from July 1), no one is likely to suffer any loss
(except the population). What causes the highest concerns is the trade
index. Everything seems normal at first sight, with the foreign
turnover being up by 1.0%. But while the outnumbering export rates
used to be treated as normal, the situation has changed again in light
of the lower exports. Thus, the export rate in the reporting period
grew only by 0.8% against the 1.1% increase in the imports.
Armenian News - Tert.am