Yerevan/Mediamax/. By registering 5.5% increase of GDP in the first quarter, we can state that the Armenian economy has entered the stage of revival, Prime Minister Tigran Sargsian stated.

Mediamax reports that, speaking at the session of the government in Yerevan today, Tigran Sargsian positively assessed the increase in almost all sectors of economy.

“The decline in construction sphere, which continues, evidences that there is diversification of economy taking place and the dependence on construction speeds reduces. On the other hand, the decline in this sphere evidences that the sector does not yet receive private investments. I want to note that for instance in 2008, 75% of constriction volume was financed by the private sector”, Tigran Sargsian stated.

The Prime Minister reminded that in 2009 the government provided developers with credit guarantees at the volume of 5bln AMD to complete the unfinished objects, and allocated 15bln AMD for stimulating the mortgage market.

Touching upon 60% increase of export, registered in the first quarter, the Prime Minister noted that such significant growth is mainly conditioned by increase of export of raw materials extractive industry and improvement of global economy indices. 

The Prime Minister informed on his order to the Ministry of Finance to present new reports of the tax base, basing on new realities, since, according to Tigran Sargsian, “GDP growth higher than the planned one aggravates the correlation of tax/GDP, initially planned at the level of 0.4%”.