Prime Minister addresses factors affecting economic growth

Management system inefficiency, corruption risks, shadow economy are among economic sphere problems in Armenia, Prime Minister Tigran Sargsyan said in his interview to Armenian TV channels stressing that the government is ready to speak about them and to suggest resolutions.

The Prime Minister addressed three factors affecting economic growth indices in Armenia. The first factor is situation in global economy. The improvement tendencies observed in global economy from the last half-year of 2009 influence our economy positively, according to the speaker. Mr. Sargsyan also stressed the factor of the situation in Russian economy as a decisive one affecting economic growth in our country adding that economic growth in Russia is very important for Armenia since over 1200 companies with Russian capital operate in our country.

The second factor is the anti-crisis measures undertaken by the government, Prime Minister said.

The speaker also singled out the intra-republican factor, specifically, disciplinary rules of our economic entities, their investment policy which also had a positive influence on our economic growth over the past six months.

In his words, slowdown in economic growth in the last month is first of all due to a 13.1 percent fall in the agricultural sphere, mostly with regard to fruits and vegetables, conditioned by climate conditions.

The government is set to create financial store for 2011-12 to ensure macroeconomic stability, according to Premier.