19:07, 11 August 2004

Share of small and middle business in Armenia's GDP comes to 40%

In order to coordinate programs of improving and developing the policy in the field of small and middle business, the Small and Middle Business Coordinating Council has been established. It is formed of representatives of the World Bank, the United States Agency for International Development (USAID), United Nations Development Program (UNDP), and the Organization for Security and Co-operation in Europe (OSCE). Armenian Minister of Trade and Economic Development Karen Chshmaritian informed journalists about it.

He said that according to preliminary data, the share of small and middle business in the country's gross domestic product (GDP) came to about 40% in the first six months of 2004. Over 4,700 new subjects with almost 11 thousand workplaces were registered in the field of small and middle business in the given period. With the purpose of assisting this field, 2,500 companies were given altogether $127 thousand. 60% of this sum fell to the share of regional enterprises.

Author: Ashot Ter-Grigorian, CK correspondent

Source: Caucasian Knot