YEREVAN, October 3. /ARKA/. Economic growth in Armenia stands at 7% now, Prime Minister Tigran Sargsyan said Wednesday in National Assembly while discussing the implementation of the central bank’s 2011 monetary policy with lawmakers.
According to the National Statistical Service of Armenia, the country’s economic activity index has grown 8% over a period between August 2011 and the same month of the previous year.
“After the 2009 financial and economic crisis the government developed and implemented an anti-crisis policy to ensure a diversified economy,” the premier said.
He singled out transition to industrial policy as one of the 2011 main achievements. “As a result, 4.6% economic growth was recorded in the country in 2011 against 2% in 2010,” he added.
On December 15, 2011, Armenian government approved the Export-oriented Industrial Policy Strategy.
Three nominal stages have been outlined in the strategy. These stages were expected to ensure development in 11 segments.
Sargsyan said that inflation was projected to be high in 2011, and then central bank transition to a lower inflation stage was among the regulator’s objectives.
According to the central bank’s 2011 monetary policy implementation report, 4.7% year-on-year inflation was recorded in December 2011. It means the goal set up in the 2011 government budget to ensure 4% (±1.5%) inflation rate has been reached.
Speaking about budget expenditure, the prime minister said that Armenia is now among those countries whose budget expenses are absolutely transparent – they are clearly seen on the website.
In the 2012 government budget, economic growth is projected at 4.6% and inflation at 4% (±1.5%). -0-