Armenian Government reports progress in exports, tourism and economic activity index
The Armenian Government has published a new report addressing the developments in different sectors over the past year.
The document, covering the period between September 1, 2016 and August 30, 2017, reveals a 21.6% increase in exports, a 6.2% increase in the economic activity index and a 24.3% increase in the tourism industries.
A total of 160 draft laws received a government approval over the period and were submitted to the National Assembly for a further consideration.
Sixty-two of the government-backed projects addressed the economic sector, 16 - the social sector, 65 - state and legal affairs and 17 - territorial administration, urban development and the energy sector.
The gross agricultural output saw a 2.1% decline; the highest negative dynamics - 58.5% - was recorded in the official grants. Also the paces of urban development decreased by 8.7% in the reporting period.
The imports outnumbered the exports in January-July, increasing respectively by 28.5% and 21.6%.
As for the average monthly salary, it increased only by 2.7%.
The import and export volumes have seen considerable changes, yet a special attention needs to be given to the structural records, according to Vilen Khachatryan, an economist.
“The export of raw mine, for example, increased by about $109 million compared to January-July 2016. So that figure accounts approximately for the 1% growth in our gross domestic product. While it was $258 million last year, it is now $367 million. The ready-made products, which also have a large share in our exports structure, increased from $206 million to $277 million; hence we have a $71 million growth also here,” he told Tert.am, commenting on the report.
The document also reveals a 6% increase (to 106%) in the budgetary revenues. Economist Atom Margayan attributes the high record to strict disciplinary measures in the budgetary and tax policies, and tax administration, as well as the government efforts towards cutting the shadow in the economy.
“The revenues increased especially due to the major taxpayers, but the other taxpayers too, had their contribution. [The positive] result was due to stricter control and lower corruption risks. The State Revenue Committee has also established stricter rules for execution procedures,” he said.
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