Industry driving force of Armenia’s economic growth

PanARMENIAN.Net - Chairman of the RA NA Standing Committee on Financial, Credit and Budgetary Affairs Gagik Minasyan said that significant steps were taken this year to reduce inflation and they will be continued next year.

Commenting on 7.7% inflation rate in January-August 2010, Minasyan told a press conference that the inflation growth is reasoned by an unfavorable agricultural year and problems in external markets, including the grain market.

At the same time, he positively estimated the GDP indices over the first eight months and labeled industry as the driving force of economic growth.

Chairman of the RA NA Standing Committee on Economic Affairs Vardan Ayvazyan said for his part that the export growth, which twice exceeded the import growth, is the most positive index in Armenia's economy in 2010.

He noted that he thoroughly studied 100 Steps program of the Armenian National congress on overcoming the crisis, saying that many provisions of the program coincide with those in the governmental program.