Armenian Prime Minister: inflation remains a serious challenge to Armenian economyAugust 29, 2010 - 17:26 AMT PanARMENIAN.Net - A slump in agriculture sector affected GDP drop in Armenia (to 4%). However, much better results are observed in other sectors of economy, Armenian Prime Minister Tigran Sargsyan stated. “11.4% industry growth was reported; while the sectors of metallurgy, building industry, instrument engineering and jewelry industry showed 20% increase. 6.1% upsurge was observed in the services sector,” RA Prime Minister noted at the National Competitiveness Foundation of Armenia board of trustees’ sitting. “Decrease in unemployment level was observed; salaries in private, as well as governmental sectors are showing tendency of growth.” Submitting the list of tax, customs and social payments to the budget over January-July, the Prime Minister stated them to be above figures planned, which allows for preservation of macroeconomic stability and cutting of budget deficit. “Inflation remains a serious challenge to Armenian economy,” Tigran Sargsyan concluded. Discussion of directions to stimulate national competitiveness growth was also on sitting agenda. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Kazakh Foreign Minister arrives in Armenia Kazakh Foreign Minister Murat Nurtleu on Monday, March 18 arrived in Armenia for a two-day trip. Aliyev touts “good chances” for normalizing ties with Armenia Azerbaijani President Ilham Aliyev has declared that there are “good chances” for normalizing relations with Armenia. Putin secures fifth term as Russian president Russian President Vladimir Putin has secured a fifth term in office through a dubious national plebiscite. Top Armenian, Indian defense officials discuss cooperation The discussions primarily focused on enhancing cooperation in the defence sector between Armenia and India. |