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| Karabagh Posts 15 Percent Gdp Growth |
 Stepanakert,
December 15, Armenpress: Nagorno Karabagh statistical service posted a 15
percent GDP growth in 2004. Local experts say this rate will be maintained
for next year as well. The 2004 budget sets revenues at 6 billion drams
and expenditures at 20 billion drams, the deficit is covered by an Armenian
loan.
Authorities in Karabagh says the benefits of vigorous economic growth will be felt by all citizens, thus average wages are set to rise 15 percent and old age pensions 25 percent. A bulky sum of the budget, around 800 million drams, four time more than in 2004, will be directed for small and medium-sized business development. The budget also earmarks, for the first time, money for reconstruction
of schools. In agriculture the focus will be on restoring the irrigation
system. |