Armenian cabinet approves its plan of actions for 2012-2017

YEREVAN, June 18. /ARKA/. An extraordinary session of Armenia’s new government has approved today its plan of actions designed for the next five years. While presenting the program prime minister Tigran Sargsyan said it was designed in view of Armenia’s national security strategy and is based on basic provisions of the programs of the governing Republican Party of Armenia and its junior coalition partner Orinats Yerkir (Country of Law). 

The prime minister said the weak global demand and ongoing uncertainty at global markets will be affecting the inflow of external economic resources. 

"This means that over the next five years economic growth in our country is to be provided by development based on internal resources. This in view the government expects exports to rise due to export-oriented industrial policy, which involves coordinated and effective use of internal resources," he said.

The government GDP growth projection is 5.7% which is expected to secure higher economic expansion rates, he said adding also that another plan is to double the amount of minimum wage and offer incentives that will stimulate birth rate increase.

In addition, the government plans also to ensure that at least 90% of children aged 5-6 have access to preschool education, also to increase pensions, reduce poverty by 8-10 percent, to create more than one hundred thousand new jobs and ensure 0.3-0.4 percent of GDP increase in annual revenue collection rate. -0-