Construction, mining and agriculture are the three key sectors of Armenian economy: finance minister

YEREVAN, September 29, /ARKA/. Armenian Finance Minister Tigran Davtian said today construction, mining and agriculture were the three key sectors of Armenian economy. Speaking at a news conference the minister said these three sectors have the biggest development potential consuming the bulk of foreign investments.

The minister then singled out the mining sector as the driving force of the Armenian industry, saying if prices of raw commodities grow it may become the axis of the economic recovery. According to him, this sector is attractive for foreign investors and although Armenia does not have oil or natural gas resources, it boasts of rich metal reserves.

According to minister, construction sector that suffered the biggest decline over 50% this year is able to quickly recover. “But I am against it being the sole guarantor of economic development. Our economy should be diversified,’ he said.
“Regardless of future developments, these three sectors will have the biggest growth potential,’ Tigran Davtian said.

He also pointed out IT, diamond cutting and energy sectors as guarantees of Armenia’s economic recovery, because ‘long-term investments in these sectors are justified bringing profits.’ Regarding other sectors of economy, the minister said there are many questions and it is not clear how they should be developed. M.M. -0-