Report names low productivity Armenian economy’s weakness

PanARMENIAN.Net - Chairman of Economy and Values Armenian Research Center dubs productivity low level as one of the weakest points of the Armenian economy.

During presentation of National Competitiveness Report of Armenia 2011-2012 Manuk Yergnyan pointed out financial intermediation, mining and construction industries as the most productive areas, which comprises only 9% of the total number of the country’s employees.

“Agricultural sector with about 40% of employees is the least productive, so are service industries,” he said, adding that Armenia’s productivity growth rate from 2005-2010 totaled 17%.

National Competitiveness Report of Armenia 2011-2012 has been prepared by Economy and Values Research Center through support of CAPS/USAID program, VivaCell-MTS, STAR trade network, German Society for International Cooperation (GIZ) and Federal Ministry for Economic Cooperation and Development (BMZ).

 Top stories
Azerbaijan’s aggression against Nagorno Karabakh failed to strike a blow to Armenia’s economy, the Minister of Economy said.
Total underground mineral resources comprised 4.3 million tons of ore, averaging 4.2 grams per ton for 0.6 mln ounces of gold equivalent.
For those with a monthly consumption of 10 thousand cubic meters or more, the current price of $276.98 would be reduced to $257.56.
Azerbaijan is highly dependent on oil revenues and its preliminary 2016 budget indicates reductions in military spending, the report says.
Partner news