GOVT. TO ALLOCATE AMD 6,1 BN FOR INDUSTRY, CONSTRUCTION DEVELOPMENT
October 11, 2013 – 18:40 AMT
PanARMENIAN.Net – AMD 6,1 billion was allocated out of the 2014 state
budget for development of industry and construction, with AMD 60
million in subsidies to be provided to export-oriented enterprises,
the head of the Union of Manufacturers and Businessmen (Employers)
of Armenia Vazgen Safaryan said.
In Soviet times, the industry share in Armenia’s GDP comprised 61%,
allowing the republic to develop a stable economic system. According
to Safaryan, the governemnt faces a task of increasing the industry
share in GDP to 35%, up from current 20%.
As of 2012, Armenian industry manufactured over AMD 1 billion worth
of products, for the first time after declaration of the country’s
independence. A 9,2% upsurge in the industry sector is planned in 2013.
According to the CIS Statistical Committee, Armenia is the 4th among
the CIS states for industrial production growth in January-August 2013,
posting a 6,2% upsurge against the 2012 results.
Kirghizstan, Uzbekistan and Moldova top the list.
Disclaimer: This article was contributed and translated into English by Babajanian Karo. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
Direct link to this article: https://www.armenianclub.com/2013/10/12/govt-to-allocate-amd-61-bn-for-industry-construction-development/