AMD 6,1 billion was allocated out of the 2014 state budget for development of industry and construction, with AMD 60 million in subsidies to be provided to export-oriented enterprises, the head of the Union of Manufacturers and Businessmen (Employers) of Armenia Vazgen Safaryan said.
In Soviet times, the industry share in Armenia's GDP comprised 61%, allowing the republic to develop a stable economic system. According to Safaryan, the governemnt faces a task of increasing the industry share in GDP to 35%, up from current 20%.
As of 2012, Armenian industry manufactured over AMD 1 billion worth of products, for the first time after declaration of the country’s independence. A 9,2% upsurge in the industry sector is planned in 2013.
According to the CIS Statistical Committee, Armenia is the 4th among the CIS states for industrial production growth in January-August 2013, posting a 6,2% upsurge against the 2012 results.
Kirghizstan, Uzbekistan and Moldova top the list.