Gagik Minasyan: 2011 to be year of Armenia’s sustainable development

PanARMENIAN.Net - Chairman of the RA National Assembly standing committee on finance, credit and budgetary affairs Gagik Minasyan said that 2011 will be a year of Armenia’s sustainable development based on economy’s diversification.

“1.2% growth was envisaged under the 2010 state budget, while 4.6% growth is foreseen under the 2011 state budget. Industrial investments will be prevailing, increasing by 4.6%,” Minasyan told a press conference in Yerevan on December 28.

He noted that the Armenian government will focus on industry, where new capacities have been already introduced. Besides, legislative privileges are effective in the field of import. Minasyan attached importance to stimulating small and medium enterprises, specifically, to postponement of VAT payment in case of modern equipment import, as well as to the legislative initiative limiting large businesses penetration into the field of small business through dividing companies and using privileges of SME.

Minasyan noted that the economic growth in 2011 will be secured due to development of traditional fields, such as mining industry, construction, as well as processing industry.

As for the development of agriculture, he said that it needs huge investments and unification of efforts.