YEREVAN (ARKA), April 22–Armenian economists believe that the 5.5 percent growth of the gross domestic product (GDP) of Armenia in the first quarter of 2010 assists the reversal of the crisis and the effectiveness of the governmental anticrisis program.

“The 5.5 percent growth of the GDP recorded in the first quarter of 2010 is of course, a good figure. This lets us believe, that the negative effects of the crisis are reversing,” said a professor of the department of economics in ESU Karlen Khachatrian.

The increase of the GDP is conditioned by the growth of industry (10.4 percent) and production of electricity (9.4 percent), which is, according to Khachatrian, a particularly positive fact.

The expert regarded the 60 percent growth of the amount of exports and 20 percent growth of the amount of imports as an encouraging fact, as it will have a positive impact on the balance of payments.

“Thereby we might expect that the growth of GDP will give a positive impulse to the Armenian economy, fulfilling the positive anticipations. This will undoubtedly accelerate the process of overcoming the crisis,” said Khachatrian.

Ph.D in Economics Arman Gabrielian likewise believes that the increase of GDP assets is the result of the effectiveness of the anticrisis program of the Armenian government.

“If the existing tendencies continue, the pre-crisis level of income will be restored sooner than expected,” he said. According to him, in parallel with the growth of industrial production and increase in exports is also important.

According to the analyst, the favorable microclimate lets the government consistently implement systemic reforms, which are aimed aimed at ensuring long-term economic growth.

“In the context of the reforms, the antimonopoly policy, fundamental changes in the educational system and the introduction of management systems, free from corruption are of utter importance,” said Gabrielian.

Translated from Russian by Yerevan Report