Economic growth in Armenia reached 4.4 percent in the first half of 2015 contrary to gloomy forecasts made by international lending institutions earlier this year, Prime Minister Hovik Abrahamian said on Monday.
Abrahamian cited the latest macroeconomic data from the National Statistical Service (NSS) during a weekly cabinet meeting in Yerevan. It shows that year-on-year growth accelerated sharply from 2.5 percent in the first quarter of the year to 5.1 percent in the second quarter.
The reported growth rate primarily resulted from an almost 15 percent surge in agricultural production and a 5 percent rise in industrial output registered by the NSS in the first half. The Armenian agricultural sector's strong performance was made possible by very favorable weather conditions. Armenian agricultural exports rose by more 50 percent in physical terms January-June.
Armenian News
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