A slump in agriculture sector affected GDP drop in Armenia (to 4%). However, much better results are observed in other sectors of economy, Armenian Prime Minister Tigran Sargsyan stated.

“11.4% industry growth was reported; while the sectors of metallurgy, building industry, instrument engineering and jewelry industry showed 20% increase. 6.1% upsurge was observed in the services sector,” RA Prime Minister noted at the National Competitiveness Foundation of Armenia board of trustees’ sitting.

“Decrease in unemployment level was observed; salaries in private, as well as governmental sectors are showing tendency of growth.”

Submitting the list of tax, customs and social payments to the budget over January-July, the Prime Minister stated them to be above figures planned, which allows for preservation of macroeconomic stability and cutting of budget deficit.

“Inflation remains a serious challenge to Armenian economy,” Tigran Sargsyan concluded.

Discussion of directions to stimulate national competitiveness growth was also on sitting agenda.