Zhoghovurd: Development hits record low in Armenia

Development slowed down by 5.3% in Armenia against January 2016, the paper says, citing the National Statistical Service.

A recently published report reveals also a decline in cement manufacturing industries, with the Hrazdan cement factory standing idle for several months. “No development activities in the country at all. With no demand for cement, the product won’t simply sell. I hope there will be positive dynamics after the weather conditions change or the parliamentary elections draw to a close,” the company’s CEO, Manuk Arakelyan, is quoted as telling the paper.


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