There are already tangible results in export stimulation policy, said the Prime Minister Hovik Abrahamyan at a government conference.
There are already tangible results in export stimulation policy, said the Prime Minister Hovik Abrahamyan at a government conference.
Foreign trade deficit continues to narrow, yet, unlike 2015, the main reason of deficit decrease in the year of 2016 is determined by export growth, rather than import decline. As Prime Minister states, during the first 5 months of 2016 there has been a rapid export growth of precious and semi-precious stones, textile goods, commodities and products of plant origin.
"Despite the decrease of domestic consumption, foreign trade has provided Armenia’s economic growth over the past 18 months, which means there is already a qualitatively new economic growth, taking us from domestic consumption driven economic growth to production based and export-led growth.
Hovik Abrahamyan has also pointed out, that the improvement of domestic business environment, as well as possible reduction of corruption risks and identification of new competitive advantages together play a crucial role in promoting economic growth in the country.
