Premier: Armenian government to release detailed analysis of factors hobbling GDP growth

Premier: Armenian government to release detailed analysis of factors hobbling GDP growth

YEREVAN, December 27. /ARKA/. Armenian government will release a detailed analysis of the factors hobbling GDP growth, Prime Minister Tigran Sargsyan said at a live-aired conference.

“The leader of our political team [president – ARKA] has put a stricter targeted indicator to us [than that projected in the budget - ARKA],” he said. “This has been done to force the government members to make every effort to ensure economic growth in our country. The budget indicators we have presented to the National Assembly differ from political goal.”

On one side, he said, there are particular indicators in the basis of the mid-term program of spending and macroeconomic indicators, on which the budget is grounded, but on the other side, there is a political ground, and here the president set a higher hurdle for achieving political goals.

“It is obvious that to reach these goals we must make every effort and must report in the future what we have done to ensure these indicators and what objective and subjective factors have impacted these indicators,” the premier said in his televised news conference.

In the 2013 government budget, GDP growth is projected at 6.2% and inflation rate at 4% (±1.5%).

President Serzh Sargsyan has ordered the government to ensure a seven-percent economic growth in 2013.

Economy Minister Vahram Avanesyan told ARKA News Agency in November that the 2013 GDP growth is expected to be recorded at 4.4% and inflation at about 6.5%.

According to the International Monetary Fund’s World Economic Outlook for October, GDP growth might be recorded at 4.6% and consumer price index at 7% in 2013. The World Bank forecasts a three-to fore-percent GDP growth for Armenia in 2013. --0---

16:18 27.12.2013

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