Armenian economy expands by 6.2%

Armenia’s economy expanded by 6.2 percent in the first six months of the year as compared to the same time span of last year, according to numbers released by the CIS Statistical Committee, ARKA reports.

In terms of GDP growth rate, Armenia was fourth after Turkmenistan, whose economy saw an 11.1% rise, Uzbekistan - 8.1% growth, and Tajikistan -7.4% . Armenia was followed by Kazakhstan (5.6%) and Russia (4.4%). The average GDP growth across the CIS was 4.4% year-on-year.

The CIS Statistical Committee unveiled figures for the first seven months for Belarus, Azerbaijan and Kyrgyzstan. The fist two’s economies grew year-on-year by 2.8% and 1.6% respectively, while Kyrgyzstan’s economy declined by 5%.

Moldova reported 1% GDP growth for the first quarter, while Ukraine's GDP in the second quarter rose by 3%.