On June 24, Armenian Economy Minister Tigran Davtyan characterized industrial production as the locomotive of economic growth.
As the Minister told a news conference in Yerevan, annual industrial production growth made up 25%, with growth tendencies varying in 10-11% range. “The global economy is entering into a new development stage, which will allow to overcome a pre-crisis disproportion,” he noted.
The Economy Minister noted positive tendencies in the line of export, where a 40% increase was reported in January–May 2011 against last year's index.
In conclusion, the he forecast gradual decrease in negative foreign trade balance.
