  Armenian PM links 14% economic decline to construction industry June 20, 2012 - 17:32 AMT PanARMENIAN.Net - The major decline in Armenian economy during the global financial and economic crisis was conditioned by construction industry’s large share, Prime Minister Tigran Sargsyan said. According to the statistics, Armenia came second in CIS countries after the Ukraine by economic recession indices. He explained the slump by the enormous investments in the construction sector (annually USD 700 mln. private investments) during the pre-crisis period. In this context, Prime Minister Sargsyan related 10.5% out of the 14 % economic recession to the construction industry, with indirect taxes totaling 2.8%.   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 Viva sees growing demand for cloud services  In recent years, medical institutions are starting to make use of Viva’s cloud servicesTurkey replacing term "Central Asia" with "Turkestan" in textbooks The Turkish Ministry of Education is replacing the term "Central Asia" with "Turkestan" in textbooks.Armenian, German presidents meet in Berlin Armenian and German Presidents Vahagn Khachaturyan and Frank-Walter Steinmeier met in Berlin.Armenia assumes presidency of Mediterranean Network of Regulatory Authorities The Commission on Television and Radio of Armenia said it expects productive cooperation in various formats. |
