Armenia summarizing 2010 outcomes

Serzh Sargsyan: 2011 should be a year of complete recovery and strengthening of our economy.

Armenia is summarizing 2010 outcomes. On December 24, Armenian President Serzh Sargsyan hosted a reception, inviting Armenian businessmen to celebrate Christmas and New Year’s Eve. The President spoke about the achievement and drawbacks of the outgoing year, giving high assessment to local entrepreneurs’ attempts to stabilize the economy.

December 25, 2010

PanARMENIAN.Net - “2011 should be a year of complete recovery and strengthening of our economy,” he said.

The current year was extremely unfavorable for the Armenian agriculture. 14.5% decline was recorded by the end of 11 months, mostly reasoned by poor weather conditions. Cultivation areas reduced by 16,000ha in 2010 compared to 2009, totaling 283,000ha. Drop was recorded in potato production, making 490,000 tons in 2010 against 590,000 tons in 2009. The volume of fruits production dropped by 3 times, totaling 125,000 tons in 2010 against 330,000 tons in 2009. As for vegetables production, decline was recorded also here – 690,000 tons of vegetables were produced in 2010 against 800,000 tons in 2009. The only positive change was registered in grape production, totaling 218,000 tons of grapes were produced in 2010 against 207,000 tons in 2009.

Minister of Urban Development Vardan Vardanyan believes for a 10-12% growth to be recorded in Armenia’s construction industry by the end of 2010. He is also optimist about the future. “I strongly believe that the growth in the industry will be higher in 2011 compared to 2010. It is proved by the funds, which are envisaged under the state budget,” he said.

According to updated data of the RA National Statistical Service, 3.8% drop was recorded in Armenia’s construction industry in January-November 2010. AMD 9.6bln is envisaged to be allocated to the RA Ministry of Urban Development under the state budget in 2011 against AMD 6.2bln in 2010.

Summarizing the annual results, Armenian Minister of Energy and Natural Resources Armen Movsisyan said that 6,5 billion kilowatt-hour of energy was produced in Armenia in 2010 against 5, 671 billion kilowatt-hour in 2009. 38% increase in minor hydropower stations-generated energy was reported this year.

As to the country’s mining sector, he said that 18,7 million tons of ore were produced in 2010, increasing by 16% against the last year’s indices. Production of concentrates showed 36,4% growth, with copper and molybdenum concentrates manufacturing increasing by 32,6% and 0,2% to gross 116 464 and 8 893 tons respectively.

Victoria Araratyan / PanARMENIAN News