ARMENIAN PM LINKS 14% ECONOMIC DECLINE TO CONSTRUCTION INDUSTRY
PanARMENIAN.Net
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%.
From: Baghdasarian
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