Senior Armenian lawmaker expects 3.6% full-year GDP growth

10.11.2010 19:53
Senior Armenian lawmaker expects 3.6% full-year GDP growth

YEREVAN, November 10, /ARKA/. A senior Armenian lawmaker from the governing Republican party said today he expects the full-year GDP to grow by 3.6%, thrice as much as projected by the government.

Speaking at a news conference, Gagik Minasian, chairman of a parliament committee on budget and financial-credit issues, described export and import growth trends as very promising, ‘especially that export growth rate is twice of the import growth rate.’

Asked to comment on a drastic rise in the prices of cheese that has been observed in Armenia over the past two weeks, Gagik Minasian said he could not say what could have prompted it, but denied speculations that it is part of scheme to monopolize the import of powder milk that is also used to make cheese.

Armenia’s State Commission for Protection of Economic Cooperation (SCPEC) opened last week a formal inquiry into the rise as retail cost of various types of locally produced cheese jumped by between 30 and 40 percent. Agriculture minister Gerasim Alaverdian’s attempts to blame the surge on seasonal drop in milk production were questioned by consumer groups who alleged price fixing among the country’s leading dairy firms.

‘We are concerned about inflation growth rate which remains high. It is a serious challenge and we are determined to work hard to bring it down,’ Gagik Minasian said.

According to the National Statistical Service of Armenia, inflation in Jan.-Sept. 2010 grew by 7.9% year-on-year. The government projection for this year is 4% (±1.5%). The consumer price index in 2010 October rose by 9.1% year-on-year. Not only cheese but other diary products’ prices have surged by 20-30 Drams over the last week. ($1 – 364.09 Drams).-0-

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Tags: , , Новости Армении АМИ Новости-Армения

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