Tweet
ARMENIA'S ECONOMIC INDICES MAY BE WORSE THIS YEAR THAN IN 2013- DAILY SAYS
YEREVAN, March 21. / ARKA /. Armenia's economic activity index in the
first two months of 2014 dropped to 2.4 percent from 8 percent in the
first two months last year, Zhamanak (Time) daily says in its today's
issue citing the official numbers of the National Statistical Service.
The daily does not expect any significant rise in economic activity
index in the next 2-3 months either.
According to it, some sectors of the Armenian economy saw a change
trend. In particular, the construction industry rose by 1.2 percent
in January and February this year, for the first time since 2008,
but the industrial output slashed by 4.1%. As for agriculture, it
grew by f 4.9 percent.
Electricity production fell by 4.4% because less natural gas arrived
in Armenia from Iran for production of electricity which is shipped
back to Tehran.
According to the newspaper, Armenian exports in the first two months
decreased by 3.2%, and imports fell by 6.7%. As a result, foreign
trade turnover was less 5.8% year-on-year. The newspaper also writes
that in January and February this year the average monthly salary
increased by 6.5 percent to 156,300 drams, however, a 5.1 percent
inflation slashed the real rise to 1.4 percent.
The daily suggests that economic problems in Russia together with
anticipated consequences of sanctions imposed on it by the West are
likely to be felt in May and June.
This means, Armenia's macroeconomic data for the first months of this
year will be modest , but in the middle of the year, it will also
feel h the consequences of the deteriorating Russian economy that
would affect also Armenia's key indicators making the 3.5 percent
economic expansion last year seem quite good and desirable. -0-
- See more at:
http://arka.am/en/news/economy/armenia_s_economic_indices_may_be_worse_this_year_ than_in_2013_daily_says/#sthash.QgRxgHZX.dpuf
YEREVAN, March 21. / ARKA /. Armenia's economic activity index in the
first two months of 2014 dropped to 2.4 percent from 8 percent in the
first two months last year, Zhamanak (Time) daily says in its today's
issue citing the official numbers of the National Statistical Service.
The daily does not expect any significant rise in economic activity
index in the next 2-3 months either.
According to it, some sectors of the Armenian economy saw a change
trend. In particular, the construction industry rose by 1.2 percent
in January and February this year, for the first time since 2008,
but the industrial output slashed by 4.1%. As for agriculture, it
grew by f 4.9 percent.
Electricity production fell by 4.4% because less natural gas arrived
in Armenia from Iran for production of electricity which is shipped
back to Tehran.
According to the newspaper, Armenian exports in the first two months
decreased by 3.2%, and imports fell by 6.7%. As a result, foreign
trade turnover was less 5.8% year-on-year. The newspaper also writes
that in January and February this year the average monthly salary
increased by 6.5 percent to 156,300 drams, however, a 5.1 percent
inflation slashed the real rise to 1.4 percent.
The daily suggests that economic problems in Russia together with
anticipated consequences of sanctions imposed on it by the West are
likely to be felt in May and June.
This means, Armenia's macroeconomic data for the first months of this
year will be modest , but in the middle of the year, it will also
feel h the consequences of the deteriorating Russian economy that
would affect also Armenia's key indicators making the 3.5 percent
economic expansion last year seem quite good and desirable. -0-
- See more at:
http://arka.am/en/news/economy/armenia_s_economic_indices_may_be_worse_this_year_ than_in_2013_daily_says/#sthash.QgRxgHZX.dpuf