Industry remains driving force behind Armenian economic growth; MP
21.06.2011,
23:19
Gagik Minasian, a parliament member from the governing Republican Party, described today Armenia’s industry as the driving force behind the growing economic activity indicator.
YEREVAN, June 21. / ARKA /. Gagik Minasian, a parliament member from the governing Republican Party, described today Armenia’s industry as the driving force behind the growing economic activity indicator. Speaking at a news conference Mr. Minasian, who is chairman of a parliament committee on finance, budget and credit issues, said the figures were very pleasing.
‘It has already become commonplace that industry is the main driving force of the Armenian economy. And what is important is that not one but several segments of this sector account for economic activity growth. This is actually a safeguard against various shocks," he said.
According to the latest operational data of the National Statistical Service, Armenia’s economic activity index saw a 9.9 % rise in May from a year earlier. In May the economic activity index surged by 13.7% from April, according to official numbers.
According to preliminary data, Armenia’s industrial production in May this year increased by 25.1% over the same period of 2010 amounting to more than 82.8 billion drams. Citing these figures, Mr. Minasian said they were evidence of increasing diversification of the national economy.
"In addition to the mining industry, we have recorded a fairly large growth in other sectors, particularly, in food processing, beverage production and pharmaceutical production, which saw a 100% rise," he said. ($ 1 - 373.96 AMD). - 0 -
‘It has already become commonplace that industry is the main driving force of the Armenian economy. And what is important is that not one but several segments of this sector account for economic activity growth. This is actually a safeguard against various shocks," he said.
According to the latest operational data of the National Statistical Service, Armenia’s economic activity index saw a 9.9 % rise in May from a year earlier. In May the economic activity index surged by 13.7% from April, according to official numbers.
According to preliminary data, Armenia’s industrial production in May this year increased by 25.1% over the same period of 2010 amounting to more than 82.8 billion drams. Citing these figures, Mr. Minasian said they were evidence of increasing diversification of the national economy.
"In addition to the mining industry, we have recorded a fairly large growth in other sectors, particularly, in food processing, beverage production and pharmaceutical production, which saw a 100% rise," he said. ($ 1 - 373.96 AMD). - 0 -
