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Changes in the Armenian economy
Submitted by Raffi
on Sun, 08/03/2008 - 06:41.
on Sun, 08/03/2008 - 06:41.
Interfax News Agency (Russia)posted on July 31 2008 the following:
Armenia's GDP in January-June went up 10.3% year-on-year to 1.323. The increase in GDP was driven largely by 14% growth in the construction sector in the six months. The service sector expanded 16.2% year-on-year. Total retail operations went up 5% while agriculture expanded 8.1%.
these are interesting numbers especially the number related to the service sector (16.2%). But I wonder why the retail operations is not doing well (5.5 %), considering the inflation in Armenia is 6.6%, does this mean that the majority of the people are buying less goods?