PM: Armenia posts 4.8% economic growth in 1st halfyear of 2016August 4, 2016 - 13:54 AMT PanARMENIAN.Net - Despite the past months’ socio-economic and security-related problems, Armenia’s economy has secured an essential growth against 2015, Prime Minister Hovik Abrahamyan said today (August 4), summing up the past two quarters’ official statistics. “In January-June 2016, we secured a 4.4% economic growth, the economic activity index up 4.8% against the same period last year,” he said at the cabinet meeting, Tert.am reports. The premier attributed the deficit in the foreign trade balance to the increasing exports (vs lower imports). He added that despite lower domestic consumption, the economic growth was largely due to foreign trade. “And that implies a qualitatively new economic growth. Instead of domestic consumption, we are now switching over to a manufacturing- and export-related domestic growth,” he added. Admitting that the government has considerable work to do to meet the existing challenges, the premier called for stronger government efforts to improve the economic indexes. He asked all responsible government institutions to outline the problems requiring urgent solutions in their upcoming reports. 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 | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |