Armenian IT sector’s share in GDP to grow: PM

YEREVAN, May 10, /ARKA/. Armenian prime minister Tigran Sarkisian said Sunday the country’s IT sector is expected to increase its share in the overall GDP in the next 5 years. Speaking to journalists he recalled that this sector posted last year a 17% growth, which he said is inspiring hopes that it would increase its share in the total GDP in the next five years.

The prime minister compared IT sector with mining industry, both in terms of their shares in GDP and the number of their work force. According to him, there are over 100 IT companies in Armenia which employ a total of 5,000 people. He also reminded that IT was declared by the government as a priority sector. The prime minister said also the chemical industry and pharmaceutical companies are two sectors that are growing at a higher rate than other sectors.

According to Enterprise Incubator Foundation ( EIF), IT sector accounted for 1.1% of the country’s total GDP in 2009. The sector’s earnings last year amounted to $129. 9 million, rising by 54% from 2005. -0-

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17:52 05/10/2010