Serzh Sargsyan: Armenia needs higher, long term and sustainable development

YEREVAN, DECEMBER 23, ARMENPRESS. A reception was organized for the business circles of Armenia at the President’s residence on December 23 on the occasion of Christmas and New Year holidays. President of the Republic of Armenia Serzh Sargsyan congratulated the businessmen on the upcoming holidays, conveying his best wishes.

As “Armenpress” was informed from the Department of Information and Mass Media of Republic of Armenia President’s Staff, Serzh Sargsyan mentioned in his speech,

“Dear businessmen,

I cordially greet you at the residence of the President of the Republic of Armenia. We have a tradition to meet at the end of each year so as to summarize the passing year and to wish you success in your way to all your initiatives.

First of all, of course, I want us to speak where we have reached.

During the last decades the authorities of Armenia have always been distinct by their economic discipline. In this regard, we have stood out to many others as we have avoided adventures and unreasonable steps. Moreover, Armenia has always been singled out for its stable microeconomic indexes, which is the reason that the international financial institutions have always assessed Armenia as a stable and reliable partner.

Global economic developments of 2015 were marked by numerous negative phenomena. During the year commodities, including oil and metals prices continued to show a downward trend in global capital markets and short-term shocks took place in especially Asian region, currencies of developing countries continued to depreciate against the USD leading to high inflationary environment”, the President said, adding that all those went in parallel with intensification of geopolitical clashes and “war of sanctions”.

The President stated that it is not an easy task to ensure microeconomic stability and record economic growth under those conditions, adding that Armenia managed to maximum avoid significant shocks caused by negative trends penetrating from outside.

“Economic activity of Armenia from January-November of 2015 was 2.9% while experts had foreseen zero and in some cases negative growth rate. Growth has been recorded in industry, 4.6%, agriculture, 11.6%, service, of course trade excluded, 3.0%”, the President emphasized. He also added that there has been 8.5% rise of salaries in the private sector and 9.7% in the public sector.

“Of course, many countries would be happy to record such results, but our absolute numbers are not high, hence, we cannot feel satisfied by the given indexes. Armenia needs higher, long term and sustainable development which will not be vulnerable to external negative trends. Only in that way we can find and assume our deserved place within the global economy”.

President Sargsyan indicated that Armenia has advanced in the list of a number of prominent rating companies. He mentioned that the key economic policy of Armenia was fostering exportation the results of which are already vivid. “We must consistently continue this work during the coming year”, he said.

The President also referred to the works of the Government, mentioning that the Government is not directly responsible for the private business, but it can and is obliged to create preconditions for improving that sector. “There is much to be done here and we will work with great precision”.
“Dear Businessmen,

I cordially congratulate you on coming Christmas and New Year holidays. I wish love and solidarity to your families. I am convinced that you are able to implement the boldest projects”, the President concluded.