Industry has become the driver of the economic growth in Q1 2017, as industrial production increased by 7.3%, a release from the Economy Ministry informed on Wednesday.
“The main plus for the industrial production advance (7.3%) was given by the processing industry, mostly private and export-oriented. This industry registered more new orders and has created many of the 29,000 new well-paid jobs in Q1. The number of employees increased in several industrial branches, in spite of fears that the increase of minimum wage since February 1 would discourage employers,” the release reads.
The processing industry grew by 7.9%. Most processing industry branches registered increases: pharmaceutical (+9.7%), metallurgy (+7.3%), textiles (+6.6%), means of transport (+6.4%), the ministry also says.
The orders for export grew by 12.9% and the labour productivity surged by 5.7%.