Ministry of Finance: economic growth in 2010 will be about 3-4% in Armenia

06.10.2010 18:55
Ministry of Finance: economic growth in 2010 will be about 3-4% in Armenia

YEREVAN, October 6. /ARKA/. GDP growth in 2010 will be about 3-4% in Armenia, said Armenian Minister of Finance Tigran Davtyan.

According to official statistics, in January-August economic growth of 3.1% was registered, compared with the same period of 2009.

“After crisis, economy of Armenia is in the phase of stabilization and rehabilitation. This year economic growth is expected to be about 3-4%. Exact volume of growth depends on the processes of the last months of the year”, said Davtyan in the press-conference on Wednesday.

This indicator significantly exceeds the indicator (1.2%) envisaged by the State Budget for 2010.

“These were very careful prognoses and during 2010 budget formulation we were saying that the growth could be more”, said Davtyan.

The factor hindering the growth was the sphere of agriculture where by several reasons, including climate conditions, decline was registered.

In January-August, decline in agriculture, forestry and fish-breeding was 17.9%.

This year the indicator of state budget income, including tax entries which are planned in the amount of 570 billion drams, will increase. This fact is a good signal for normalization of the situation.

RA law “On State Budget of Armenia for 2010” was adopted on December 10, 2009 by the Armenian National Assembly. Income part of the State Budget is 742

billion drams, spending – 935.5 billion drams and the deficit – 193.4 billion drams. State Budget of Armenia for 2010 planned economic growth by 1.2%. ($1 – 360.76 drams). --0--


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