Armenia’s economic development prospects look promising: President
06.06.2013,
11:15
Prospects of Armenia’s economic development are promising, despite the existing difficulties, Armenian president Serzh Sargsyan said.
YEREVAN, June 6. /ARKA/. Prospects of Armenia’s economic development are promising, despite the existing difficulties, Armenian president Serzh Sargsyan said.
Economic growth was 7.2% in the country in 2012 and this level is maintained this year, along with low and manageable inflation, the president said at a National Security Council meeting Wednesday.
According to Sargsyan, transformation and diversification of Armenian economy are already producing results. Armenia has left behind its neighbors, even the ones with rich natural resources, and ranked 23rd among 188 countries, the president said. This, in turn, allowed returning to the pre-crisis level using all economic fields, under the condition of almost halved construction volume and almost doubled public revenues, the president said.
“These facts are unquestionable and are recorded not only by ourselves”, the president said.
Yet, economic reforms should be continued and industrial production should be developed. In particular, the country needs projects which will pool the whole economic fields along, he said.
Armenia’s GDP growth was 7.2% in 2012. The 2013 budget target is 6.2%.
Inflation was at 2.6% in 2012 and planned at 4% (±1.5%) under the 2013 budget. -0-
