Armenia's Economy Grew in First Half of 2007

Armenia's economy is on the rise yet again!

The growth of Armenia’s GDP in January-May of 2007 totaled 10.2%, as compared to the same period of 2006.

The average monthly salary in Armenia in January-May of 2007 increased by 18.0%, as compared to the same period of 2006, thus making 71016 drams.

That's almost $207 dollars a month, which compares favorably with the $186 a month in 2006, converted with today's currency exchange rates. Of course, this is assuming zero inflation and zero numbers fudging, both of which have to be taken into account with all purposely incomplete government statistics.

Source: Banks.am

Increased Income for Armenians...Increased Expenses, Too!

It's not ever year in the United States that one's income increases so dramatically. Debts, sure - but income?

In 2006 the average nominal salary went up in Armenia by 23.5 percent amounting 64001 ($175) Armenian drams. The monetary incomes of the population went up by 19.8 percent totaling 1722.3 billion drams. At the same time monetary expenditures went up by 18.9 percent totaling 1650.7 billion drams.

Subtract one from the other and you're hardly left with anything.

Source: Panorama