Economic activity of Armenia in July decreased by 4.3%

The economic activity index of Armenia, according to preliminary statistics, in July 2016 fell by 4.3% compared with July 2015, according to the national statistical service of the Republic.

According to NSS, the decline in economic activity was due to the decline in production, mainly in the field of agriculture by 3.8% to 89.7 billion drams, construction — 6.8% to 33.6 billion drams, and a decrease in turnover of 1% to 200.5 billion drams ($1 — 474,68 drama).

However, in July 2016, compared to July 2015, it was recorded an increase in volumes of industrial production in the amount of 2.8% to 117.7 billion drams and the volume of services -by 4.1 per cent to about 107 billion drams

Moreover, economic activity in Armenia in the first seven months of 2016, increased by 3% compared to the same period in 2015.

According to the budget, the growth of Armenia’s GDP in 2016 to 2.2%.

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