 Govt. to allocate AMD 6,1 bn for industry, construction development October 11, 2013 - 18:40 AMT PanARMENIAN.Net - AMD 6,1 billion was allocated out of the 2014 state budget for development of industry and construction, with AMD 60 million in subsidies to be provided to export-oriented enterprises, the head of the Union of Manufacturers and Businessmen (Employers) of Armenia Vazgen Safaryan said. In Soviet times, the industry share in Armenia's GDP comprised 61%, allowing the republic to develop a stable economic system. According to Safaryan, the governemnt faces a task of increasing the industry share in GDP to 35%, up from current 20%. As of 2012, Armenian industry manufactured over AMD 1 billion worth of products, for the first time after declaration of the country’s independence. A 9,2% upsurge in the industry sector is planned in 2013. According to the CIS Statistical Committee, Armenia is the 4th among the CIS states for industrial production growth in January-August 2013, posting a 6,2% upsurge against the 2012 results. Kirghizstan, Uzbekistan and Moldova top the list.   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 |  Latest news Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals  Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation.Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan.Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush.Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |
