Yerevan/Mediamax/. Session of the National Competitiveness Foundation of Armenia’s (NCFA) Board of Trustees took place in Yerevan on Saturday under the chairmanship of the Prime Minister of Armenia Tigran Sargsian.

Mediamax was informed in the press service of the Armenian government that Tigran Sargsian presented the tendencies of the country’s economic development to the members of the Board of Trustees. According to him, in the course of 7 months, 2010, 4% economic growth was registered in the country, “however the significant decline in agriculture had its influence on the speeds of economic growth”.

“Serious changes are taking place in the structure of our GDP. The share of services and industry increases in GDP. From a certain point of view, this has positive influence on tax collection. Tax-GDP correlation in the course of 7 months improved, as compared to last year”, Armenian Prime Minister stated.

Tigran Sargsian presented the indices of tax, customs and social proceeds in the course of the first seven months of 2010 to the members of the Board, noting that they exceed the indices, planned by the state budget. “This will allow us preserving macroeconomic stability and reducing the budget deficit to the GDP”, Prime Minister stressed. 

NCFA session agenda included program proposals on developing the southern direction of tourism and a project, elaborated by the committee of the education sphere. Members of the Board also heard out the report on the process of works under “Tatev Revival” Program. The suggestion on large-scale research of directions for further stimulation of national competitiveness was taken to discussion. The Board discussed a number of organizational issues, approved the venue and the time for holding the next session.