Committee chairman predicts robust economic growth for 2012

YEREVAN, June 4. /ARKA/. Citing the economic indicators of the first four months, the chairman of an Armenian parliamentary commission on financial and fiscal issues, said they inspire optimism. 

Speaking at a news conference, Gagik Minasian from the ruling Republican Party, said the optimism is based on the government’s resolution to increase tax collection rate and bring down inflation.

Mr. Minasian described the 7 percent economic activity index reported for the first four months of the year as ‘very impressive.’ He also commended the authorities for low inflation rate, saying also export growth rate is twice of imports.

According to official numbers, economic activity index in April advanced 7.5% from a year earlier while inflation in May saw a 0.5% rise if compared with 2011 April. 

According to the numbers, released by the National Statistical Service, Armenian exports in April slashed by 17% from a year earlier to $91.9 million, while imports grew by 5.4% to $355.8 million.

Gagik Minasian said also the depreciated national currency, the dram, against USD is also creating favorable conditions for economic growth amid ‘soft’ inflation. 

The dram lost 3.7% against USD in May – falling from 391.87 to 406.36 drams. -0-