YEREVAN, OCTOBER 18, ARMENPRESS. Armenia’s minister of economic development and investments Suren Karayan says the government’s policy for economic development is justified.

“The vision which was declared a year ago has also been realized and is justified. Our main goal was that we see further development in the formation of exportable economy. We see it based on results of the first 8 months”, the minister said.

The minister mentioned that exports growth of the first 8 months of 2017 was 21,7% against the same period of the previous year, and the total growth of product and service exports surpassed 20%. “This allows us to assume that we will be able to increase the specific weight of product and service exports to 37-38% in the GDP, based on this year’s results. In turn, this gives basis to think that soon we will be able to ensure the indicator which is stipulated in the government’s action plan – to deliver 40-45% exports weight of products and services in the GDP”, he said.

According to the minister, the 5,5% economic activity indicator is associated with the double-digit growth in the industry, trade and service branches.

“It is noteworthy that the volumes of industrial production grew by 12,4%, which was the main moving force for economic growth. And the 16,4% growth of processed industry production volumes provided the growth of volumes of overall industrial production”, he said.

Speaking about actions for encouraging exports, Karayan mentioned that they took steps for wide representation of Armenian products in EEU countries.

He said the exports of Armenian products to EEU countries grew by 33,4%, and 32,6% to EU countries.