Armenia’s GDP growth

In the first five months of 2010 Armenia’s GDP grew by 8.8% compared with the same period of last year. Its foreign trade turnover for this period was USD 1.776 billion, 34% more than in the same period last year.

Head of the Armenian Parliament Committee responsible for economic issues Gagik Minasian has stated that this growth is determined by world market conditions. These have created economic growth in almost every country but in Armenia much was done by the Government in 2009 through the implementation of the anti crisis programmes. Armenia had managed to slow down its economic decline even by the middle of 2009.