Despite negative global trends Armenia recorded 3.5% economic growth

YEREVAN, FEBRUARY 17, ARMENPRESS. Despite the negative global economic trends in the period of the end of 2014 and 2015, Armenia recorded 3.5% GDP growth in January-September 2015; moreover, the GDP was mainly formed based on export branches, Minister of Economy Karen Chshmaritian mentioned about this during the discussion of the 2015 report of the Ministry at the Government. According to the Minister, in the context of global economic developments, international organizations have published 2015 annual GDP forecasts for Armenia (World Bank - 0.0%, the International Monetary Fund-1.0%, European Bank for Reconstruction and Development -1.5%).

As “Armenpress” was informed from Information and Public Relations Department of the Government,Karen Chshmaritian informed that economic activity index for January-December 2015 was 103.1%. All branches of economy, with the exception of trade, have had a role in the increase of economic activity.

In the words of Minister Chshmaritian, the economic year was complicated, conditioned by a number of factors, but even under those conditions the industrial output reached 1 trillion and 300 billion drams in January-December 2015, which is an increase of 5.2% against the previous year. It is worth mentioning that the growth is conditioned also by launching new companies, particularly mining, production of medical equipment, green house economies, beer production, and other spheres, which can be regarded as achievements under the mentioned conditions.

It was also reported that in January-September of 2015 FDIs in Armenian economy reached $296.7 million, exceeding the number of the same period of the previous year by nearly $80 million.

“Meridian”free trade zone was put into use where nearly $14 million was invested. $17 million will be invested by companies having license to use it, creating about 160 jobs. 2 companies have obtained a license to use “Alliance” free trade zone. Nearly $10 million is expected to be invested by those companies, which will create 80 jobs.