Expert: Economic growth in Armenia conditioned by external factors

July 29, 2011 - 18:35 AMT

PanARMENIAN.Net - Economic growth in Armenia recorded as of the results of six months is mainly conditioned by external factors, according to Aram Kayfajyan , Director of Armenbrok investment company.

“Armenia’s economic growth is stipulated by activation of world economic background,” Kayfajyan told PanARMENIAN.Net reporter.

Among external factors the expert pointed out rise of world metal prices, as well as growth of transfers.

The country authorities should pay more attention to supporting local production and improvement of business environment, according to Kayfajyan.

In June 2011, economic growth rate in Armenia amounted to 2,3% as compared to similar period of 2010. As National Statistics Service of Armenia reports, economic growth rate in June as compared to May 2011 amounted to 9,6%.

According to state budget, GDP growth in Armenia in 2011 is scheduled at 4,6%.

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