Serzh Sargsyan: Economic growth in the past 20 years is obvious

Karen Ghazaryan
Public Radio of Armenia

Armenian President Serzh Sargsyan attended today the 7th congress of the Union of Manufacturers and Businessmen (Employers) of Armenia. Speaking at the event, President Sargsyan stressed that the economic progress over the past 20 years is obvious. The President presented the path the Armenian economy has passed in the course of two decades, drew parallels between the past and the present, referred to the existing challenges, the objective reality and the perspectives.

The President said industry and agriculture have managed to restore their place in the economic structure, parallel to the growth of exports. “The results of the current year will show that the trends continue. Agriculture and industry are expected to make 37.0% of the GDP, while the services (without trade) will reach about 32%,” the President said.

He added that the financial system has expanded the volume of services, as a result of which double growth has been observed in the monetization indicates in 2014.

The President stressed the need to maintain the positive trends.

Chairman of the Union of Manufacturers and Businessmen (Employers) Arsen Ghazaryan noted, in turn, that despite the fact that the business environment in Armenia needs to be improved, the Armenian economy is more competitive, flexible and ambitious aas compared to other countries in the region.

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