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
That net balance was lower than 39% in June and the lowest since the Markit Global Business Outlook Survey began in 2009.
The project aimed to assist the country in improving financial management and efficiency of the government’s activity.
Australian PM Tony Abbott said leaders would discuss job creation, identifying tax cheats and strengthening the global economy.
This is the second in a series of three DPOs, supporting the government of Armenia in meeting its strategic objectives.
Partner news