Four percent growth good but not sufficient, minister says
08.10.2015,
16:50
A 4% economic growth is a good figure, but not enough for sustainable development, however, in view of current realities, it is quite satisfactory, Armenian economy minister Karen Chshmarityan said today.
YEREVAN, October 8. / ARKA /. A 4% economic growth is a good figure, but not enough for sustainable development, however, in view of current realities, it is quite satisfactory, Armenian economy minister Karen Chshmarityan said today.
Speaking to reporters he said this growth will not have a direct and positive effect on the population, but he described it as ‘a good stepping stone’ for the future that could ensure continued growth.
At the same time, he noted that many new jobs were created recently, salaries of public servants rose, adding also that these trends will lead to a consistent increase in people’s incomes.
The minister also stressed that only Armenia and Kyrgyzstan of the Eurasian Economic Union reported growth in the first half. Armenia was also the only member of the trade bloc to register growth in exports, while its imports declined less than in other countries.
“Of course, we are not satisfied with these figures. Efforts are being made to mitigate outside influences and mobilize internal resources to find new markets, as well as to expand the geography of imports," said Chshmarityan.
According to him, the Generalized System of Preferences (GSP) provides preferential duty-free entry for thousands of Armenian goods not only to EU but also to the USA. He said new opportunities are open for Armenian business people, especially that the US does not impose VAT on imported goods.
Chshmarityan said the government plans to hold various forums with African countries, where there are significant opportunities not only for imports of goods, but also of exports.
As an example, he cited partnerships with African countries in the jewelry sector, stressing that over two years of cooperation 18 jewelry enterprises were set up in Armenia, and about 98% of rough diamonds are processed in Armenia, not re-exported.-0-
Speaking to reporters he said this growth will not have a direct and positive effect on the population, but he described it as ‘a good stepping stone’ for the future that could ensure continued growth.
At the same time, he noted that many new jobs were created recently, salaries of public servants rose, adding also that these trends will lead to a consistent increase in people’s incomes.
The minister also stressed that only Armenia and Kyrgyzstan of the Eurasian Economic Union reported growth in the first half. Armenia was also the only member of the trade bloc to register growth in exports, while its imports declined less than in other countries.
“Of course, we are not satisfied with these figures. Efforts are being made to mitigate outside influences and mobilize internal resources to find new markets, as well as to expand the geography of imports," said Chshmarityan.
According to him, the Generalized System of Preferences (GSP) provides preferential duty-free entry for thousands of Armenian goods not only to EU but also to the USA. He said new opportunities are open for Armenian business people, especially that the US does not impose VAT on imported goods.
Chshmarityan said the government plans to hold various forums with African countries, where there are significant opportunities not only for imports of goods, but also of exports.
As an example, he cited partnerships with African countries in the jewelry sector, stressing that over two years of cooperation 18 jewelry enterprises were set up in Armenia, and about 98% of rough diamonds are processed in Armenia, not re-exported.-0-
