Economic activity index reported in January inspires hopes of more robust recovery: PM
ARKA, 14.03.2011Armenian prime minister Tigran Sarkisian said last Saturday that a 7.7% economic activity index reported in the first month of 2011 was inspiring hopes of more robust recovery throughout the year.
Addressing a recurrent meeting of the National Competitiveness Fund Board of Trustees the prime minister cited a 5.7% growth in the industrial sector saying also that the construction sector showed a slight rise, but added that this was important since it did not decline as opposed to the past year.
The prime minister cited also a robust 24.3% growth in the services sector attributing it partly to introduction of mandatory car insurance. Speaking about trade indicators Tigran Sarkisian said it grew by 2.3%, emphasizing a quicker than expected growth of 21% in exports as imports dropped by 2% if compared to a year earlier.
The prime minister noted also a 20% rise in electricity production and a 4.5% rise in median wages which reached 105,000 Drams -82.000 Drams in public sector and 131,000 Drams in private sector.
Tigran Sarkisian spoke also about trends in the mining industry which has been seeing a stable growth not only due to rising prices of metals but also to serious investments channeled into this sector.
Tigran Sarkisian mentioned also a 9% rise in food industry, a 35% rise in pharmaceutical sector ascribing this to commissioning of new production capacities. The government has projected a 4.6% GDP expansion this year, up from 2.6% registered for 2010. -0-
