Monday, October 16 2017 17:57
Naira Badalian

Bako Sahakyan: Until 2020 Artsakh will become an energy exporting country

Bako Sahakyan: Until 2020 Artsakh will become an energy exporting country

ArmInfo. The average growth rate of the Artsakh Republic's GDP for the past 10 years was 9.8%. This was discussed at an expanded meeting on the main provisions of the program of the President of the Republic of Artsakh for 2017-2020 said the President of the country Bako Sahakyan. According to him, this indicator is quite high, given the global financial and economic crisis during the reporting period.

The President recalled that on July 19, in his speech from the rostrum of the National Assembly, he stressed that in the future it is envisaged to ensure an average annual growth of 8-10%, already in 2020 reaching 310 billion AMD. According to the head of the republic, even if this approach seems ambitious, it is quite realistic.

As Bako Sahakyan pointed out, one of the strategic directions of the Artsakh Republic's development is the improvement of the demographic situation. "Over the past few years, a positive trend has been observed in this direction," he said, stressing that this fact is satisfactory, though insufficient. To improve the demographic picture of the country, the accent, as the president explained, will be made on stimulating the birth rate. In parallel, the state will work towards improving the policy of state action on mortgage lending to families.

During the 2017-2020 period, the development of industry is planned. As the president noted, the most dynamically developing is the mining sector of the economy. Preservation of high rates of development in this sphere is a priority task, he said. The implementation of extensive hydropower programs is envisaged, which has huge potential to ensure stable incomes in the long term. By 2020, 10 new HPPs are planned to be built, with the result that Artsakh will become an electricity exporting country: the volume of electricity produced will be 550 million kW/h, and until 2023 the figure will reach 750 million kW/h. As Bako Sahakyan assured, developing the above directions, the state will do its utmost not to harm the environment.

During the reporting period, the Republic will carry out large-scale work to ensure the consistent development of the agro-sphere. It is planned to increase the volume of gross agricultural products by 10%.  "The agricultural production of Artsakh should be competitive, both on the domestic and foreign markets, becoming a special brand in the world agricultural market, symbolizing high quality, environmental friendliness, health and affordable prices," the president said.

Tourism will also be in the focus of attention of the Artsakh authorities. It is assumed that the stimulation of tourism will entail the development of various infrastructures and increase the recognition of the republic.

Earlier, Adviser to the President of Artsakh, Tigran Abrahamyan, wrote on his Facebook page that the GDP of the Artsakh Republic has quadrupled over the past 10 years. "If the GDP of Artsakh in 2007 was 70.8 billion AMD, in 2016 it was 229.6 billion AMD, then by the results of 2017 the task was set to reach the figure of 270 billion AMD, within 10 years, ensuring a 4-fold increase in nominal GDP of the country," the adviser to the president of Artsakh says. According to him, the state budget revenues in 2007 amounted to 30 billion, in 2017 it is expected to grow to 100 billion AMD.

The consolidated budget of the Republic of Artsakh for the first half of 2017 compared to the same period in 2016 increased by 19.9%. As Tigran Abrahamyan reported earlier on his Facebook page, in January-June of 2017 the revenues of the consolidated budget of the republic increased by 19.9% to 16.1 billion AMD.  According to the National Statistical Service of the Artsakh Republic, in June 2017, the economic activity index in comparison with June 2016 was 113.9%, and in the period January-June of 2017 in comparison with the same period of 2016 - 115.0%. In January-June 2017, the Artsakh GDP was 102.2 billion AMD, and in the same period in 2016 - 87.7 billion AMD. GDP per capita in January-June 2017 at current prices amounted to 699.8 thousand AMD, 1444.2 USD or 1333.3 EUR. 6 percentage points of the recorded GDP growth of 14.9% was provided by the mining sector and the operation of open fields, financial and insurance activities accounted for 2.6 percentage points, construction was 2.4 percentage points, electricity, gas, steam and air of good quality.

POST A COMMENT
Input digits     


News
Russian government presents results of 23rd meeting of  Armenian-Russian intergovernmental commissionRussian government presents results of 23rd meeting of  Armenian-Russian intergovernmental commission
USD transactions down RUB ones up in in Armenia`s interbank foreign  exchange market Dec 16 to 20USD transactions down RUB ones up in in Armenia`s interbank foreign  exchange market Dec 16 to 20
Idram Junior Donated Books to SchoolsIdram Junior Donated Books to Schools
"Gray deals" involving gold and diamonds seen in private transfers
Overchuk: Trade turnover between Russia and Armenia reached $10.2  billion in the first 10 months of 2024Overchuk: Trade turnover between Russia and Armenia reached $10.2  billion in the first 10 months of 2024
Armenian Deputy Prime Minister: Agricultural trade turnover between  Armenia and Russia increased by 7%Armenian Deputy Prime Minister: Agricultural trade turnover between  Armenia and Russia increased by 7%
Team Telecom Armenia`s Sustainable Development Bonds to be listed at  Armenia Stock ExchangeTeam Telecom Armenia`s Sustainable Development Bonds to be listed at  Armenia Stock Exchange
 EBRD invests $13.5 million  in Team Telecom Armenia`s $75 million  bond issuance  EBRD invests $13.5 million  in Team Telecom Armenia`s $75 million  bond issuance 
Are all funds protected in Russian banks?Are all funds protected in Russian banks?
Global digital cooperation gaining currency in interconnected world -  Armenian NA vice-speaker Global digital cooperation gaining currency in interconnected world -  Armenian NA vice-speaker 
Armenia`s economy minister, C-Quadrat Ampega reps discuss development  of Armenia`s capital market Armenia`s economy minister, C-Quadrat Ampega reps discuss development  of Armenia`s capital market 
RA Embassy in USA hosts special fireside chat on USAID`s lasting  impact in strengthening Armenia`s economic resilience and democratic  governanceRA Embassy in USA hosts special fireside chat on USAID`s lasting  impact in strengthening Armenia`s economic resilience and democratic  governance
Armenia committed to constructive cooperation within BSEC to advance  peace and stability in Black Sea Region and beyond - Armenian FM Armenia committed to constructive cooperation within BSEC to advance  peace and stability in Black Sea Region and beyond - Armenian FM 
Big Christmas Market with Idram, IDBank and idplusBig Christmas Market with Idram, IDBank and idplus
Armenia implements 10 investment projects in Eurasian region - EDBArmenia implements 10 investment projects in Eurasian region - EDB
Armenian government plans to hold IPO for its share in  Zangezur  Copper and Molybdenum CombineArmenian government plans to hold IPO for its share in  Zangezur  Copper and Molybdenum Combine
Armenia, Japan to sign convention abolishing double taxationArmenia, Japan to sign convention abolishing double taxation
EFSD to issue $2mln grant to Armenia to improve financing reporting  quality of government agencies EFSD to issue $2mln grant to Armenia to improve financing reporting  quality of government agencies 
Armenia, Hungary to sign economic cooperation agreementArmenia, Hungary to sign economic cooperation agreement
ZCMC paid AMD 33.249bln to Armenia`s state budgetZCMC paid AMD 33.249bln to Armenia`s state budget
Interregional cooperation high on agenda of Armenian-Russian  intergovernmental commissionInterregional cooperation high on agenda of Armenian-Russian  intergovernmental commission
Deputy Minister of High-Tech Industry, ITU Regional Director discuss  future cooperationDeputy Minister of High-Tech Industry, ITU Regional Director discuss  future cooperation
IMF Board completed the 4th review under the SBA with Armenia,  providing the country with access to SDR $24.12 millionIMF Board completed the 4th review under the SBA with Armenia,  providing the country with access to SDR $24.12 million
Armenia, Iran discuss tourism cooperation prospects Armenia, Iran discuss tourism cooperation prospects 
Armenia facing serious demographic challenge - Tigran JrbashyanArmenia facing serious demographic challenge - Tigran Jrbashyan
Lars open for cars Lars open for cars 
The Best Gifts for New Year for Your Loved OnesThe Best Gifts for New Year for Your Loved Ones
Conflict of interests between West and Russian to harm Armenian  nuclear energy - opinion Conflict of interests between West and Russian to harm Armenian  nuclear energy - opinion 
Laws designed to develop Armenia`s technological sector - minister Laws designed to develop Armenia`s technological sector - minister 
Development of nuclear diplomacy for Armenia is a strategic task -  expert Development of nuclear diplomacy for Armenia is a strategic task -  expert 
Converse Bank included in the list of Confirming banks of the EBRD  TFPConverse Bank included in the list of Confirming banks of the EBRD  TFP
Armenian Stock Exchange conducts first-ever government bond switch  actionArmenian Stock Exchange conducts first-ever government bond switch  action
IDBank, Idram, and idplus at the Big Christmas MarketIDBank, Idram, and idplus at the Big Christmas Market
Armenian-Russian Intergovernmental Commission meeting to take place  in MoscowArmenian-Russian Intergovernmental Commission meeting to take place  in Moscow
Converse Bank Deputy CEO and CFO, Grant Akopian, Elected to BACEE BoardConverse Bank Deputy CEO and CFO, Grant Akopian, Elected to BACEE Board
IFC anchors Armenia`s first sustainability-linked bondsIFC anchors Armenia`s first sustainability-linked bonds
Armenia`s Minister of Economy calls on Greek businesses to make use  of the benefits offered by the countryArmenia`s Minister of Economy calls on Greek businesses to make use  of the benefits offered by the country
Andrew Turner seeking ways to enhance trade relations between Canada  and ArmeniaAndrew Turner seeking ways to enhance trade relations between Canada  and Armenia
Greece interested in stregthening cooperation with Armenia -  Konstantinos Fragkogiannis Greece interested in stregthening cooperation with Armenia -  Konstantinos Fragkogiannis 
Russia leader in Belarussia, Armenia trade Russia leader in Belarussia, Armenia trade 
Armenian, Georgian railroaders coordinate plans for 2025Armenian, Georgian railroaders coordinate plans for 2025
Converse Bank has been included in the list of Confirming Banks of the EBRD TFPConverse Bank has been included in the list of Confirming Banks of the EBRD TFP
Yerevan   to host Armenian-Greek Intergovernmental Commission meeting Yerevan   to host Armenian-Greek Intergovernmental Commission meeting 
Expert: SMR technologies are still futuristicExpert: SMR technologies are still futuristic
RA NA Member: Thanks to EAEU, Armenia experienced significant GDP  growthRA NA Member: Thanks to EAEU, Armenia experienced significant GDP  growth
Armenia, Iran discuss potential for launching joint jewelry  productionArmenia, Iran discuss potential for launching joint jewelry  production
Lifting embargo by Ankara, Baku could mean loss of Armenian economy,  statehood - economist Lifting embargo by Ankara, Baku could mean loss of Armenian economy,  statehood - economist 
Armenia`s economy minister presents assistance programmes for  slaughterhouses Armenia`s economy minister presents assistance programmes for  slaughterhouses 
Armenia`s premier on objective of turnover tax revision Armenia`s premier on objective of turnover tax revision 
Slowly but steadily we are making progress: Health Minister  Slowly but steadily we are making progress: Health Minister  
Lars open for light vehiclesLars open for light vehicles
Armenian interbank foreign exchange  market increased significantly,  while ruble transactions decreasedArmenian interbank foreign exchange  market increased significantly,  while ruble transactions decreased
Acba Bank and IFC to allocate $50 million for MSME  development in  ArmeniaAcba Bank and IFC to allocate $50 million for MSME  development in  Armenia
Armenian authorities approved STARLINK license Armenian authorities approved STARLINK license 
Pashinyan: EAEU ensures economic development dynamics of its member  countriesPashinyan: EAEU ensures economic development dynamics of its member  countries
EBRD and AraratBank Join Forces to Promote Green Economy and Competitiveness in ArmeniaEBRD and AraratBank Join Forces to Promote Green Economy and Competitiveness in Armenia
RA Ministry of Economy, World Bank outline next steps for TRIPRA Ministry of Economy, World Bank outline next steps for TRIP
Loss ratio under MPTL insurance contracts showing continued upward  trend in Armenian insurance marketLoss ratio under MPTL insurance contracts showing continued upward  trend in Armenian insurance market
Armenia, China discuss new areas of collaboration in high- tech  sectorArmenia, China discuss new areas of collaboration in high- tech  sector
"Upper Lars" closed for trucks - Attache
Read more
Exchange rates
20.12.2024
RUB3.850.02
USD395.050.14
EUR410.46-0.52
GBP494.09-5.04
CAD274.660.23
JPY25.200.04
CNY54.130.01
CHF441.540.69