Gagik Minasyan Says Stable Economic Growth to be registered in Coming Months

YEREVAN, JULY 21, ARMENPRESS: The increase of GDP (gross domestic product) by 6.7% in the first quarter of the current year is a good result, according to Gagik Minasyan, chairman of the NA’s finance-crediting and budget affairs standing committee. He said today at a meeting with journalists that the growth, registered in the industrial sphere, made 12.3% as compared to the results of the first quarter of the last year.

‘It is quite gratifying that it is already several months growth has been registered in the sphere of industry. It has an essential influence on the GDP indices. The implementation of anti-crisis programs is giving its results. I am sure till the end of the year the indices will remain positive,’ Gagik Minasyan said.

As compared to the results of the same period of the last year, the volume of services, provided to the society, increased by 6.1%. As compared to the results of May, the volume increased by 12% in June. The growth in the construction sphere made 4.1%. In contrast to the construction sphere, the indices of the agricultural sphere reduced by 13.1%. 55.9% growth was registered in the exportation indices, and 24.4% in importation indices.

‘In this quarter we registered that the rate of inflation reduced by 1.1%. Despite this, the index of inflation is still high in the Republic. It makes 7.3%. The state should undertake all the measures in order to make the index of inflation 5.5%.’ Gagik Minasyan said.

He mentioned that under conditions of economic growth the state may spend the revenue in several directions. The revenue can be added to the next year’s budget or be spent for the implementation of several projects. In that case some amendments are expected to be made to the budget.