Armenian economic has registered progress since last year of crisis, Gagik Minasyan, Chairman of the Standing Committee on Finance, Credit and Budget, RA Parliament, told a press conference on July 21.

Comparing last year’s indicators with this year’s, he pointed out 16.7% economic growth against an 18% economic decline. The results are obvious: considerable growth in three of the four GDP fields – industry, construction and services – as compared with the corresponding period last year. However, the agricultural sector registered a rather serious, 13%, decrease. Minasyan pointed out 12.3% growth in the industrial sector. “It is gratifying to know that. I am sure that the growth in this sector will be maintained until the year end,” he said. The services sector registered 6.1% growth, and the construction sector 4.1% growth,” Minasyan said. 

He also pointed out 6.7% GDP growth. “This is quite a good indicator for the first half of the year. I would like to remind you that 1.2% growth has been budget for this year,” he said. Minasyan also reported a 55.9% increase in exports and a 24.4% increase in imports.

The Commission will do its best for the inflation rate to reduce and remain within 5.5% before the end of of 2010.