YEREVAN. – Armenia’s joining the Customs Union (CU) will contribute to the economic growth of the country.

President Serzh Sargsyan noted the abovementioned in response to the queries posed by the participants in the Yerkrapah Volunteers Union’s tenth congress on Saturday.   

Sargsyan noted that Armenia’s economic growth in 2013 was less than the 2012 results. In his words, however, this trend is typical for the global economy. According to the President, even though the situation in Armenia is much better than in the other countries, it is worse than what is necessary for the country’s growth.   

The President stated that he expects a high economic growth in 2014. 

“We had a sustainable economic growth in the past six years. The average salary has rapidly increased,” Sargsyan added.  

He also recalled that Armenia has issued bonds.  

“They were saying to us that no one would give us debts. But after September 3 [, 2013,] when we announced about the intention to become a member in the CU, a $3 billion debt was offered to our country. We took $700 million, to be able to return [it] in the future. If we are experiencing a downturn, why are sixty global investors giving us debts?” the President asked.    

He assured that Armenia’s economy is healthy and strong, and all the foundations exist to ensure a sustainable economic growth in the country. 

Sargsyan added that, after the decision to join the Russian-led CU, Armenia has a greater confidence for economic growth. In this context, the President explained that the lion’s share of the recorded economic growth was that of Russia.

“Now, we will make use of the CU market, and the growth will be even greater,” Serzh Sargsyan assured.