YEREVAN, August 23. /ARKA/. Vardan Ayvazyan, chairman of the parliamentary economic committee, thinks Armenia’s economy is expected to grow at least 8% this year thanks to the growing world prices, particularly for mining industry’s products.

As a result, Armenia’s mining industry will rally spurring also economic growth as a whole.
Explaining the current slowdown of economic growth in the country, he lawmaker said that the economic growth is mainly hobbled by the global economic stagnation and certain downturn in some sectors.

According to official statistical reports, Armenia’s economy has grown 8.8% over five months of this year, 6.7% over six months and 4% over seven months.

National Statistical Service of Armenia says GDP grew 4% in Jan-July 2010, compared with the same period a year before, to AMD 1586.5 billion or $4.3 billion.

Year-on-year inflation was recorded at 7.4% in Jan-July 2010.

In the 2010 government budget, GDP growth is planned at 1.2% and inflation at 4±1.5%.-.-0---