Mid-term public expenditures for 2012-2014 project 4.2% - 4.8% GDP growth

07.07.2011 14:36
Mid-term public expenditures for 2012-2014 project 4.2% - 4.8% GDP growth

YEREVAN, July 7. / ARKA /. An Armenian government session today has approved a program on mid-term public expenditures for 2012-2014 that projects a 4.2% - 4.8% GDP growth for 2012-2014.

"This document projects a stable macroeconomic environment for the next three years. In particular, GDP growth is projected at 4.2% in 2012, 4.5% in 2013 and 4.8% in 2014," finance minister Vache Gabrielian said when introducing the document.

According to him, the growth will be secured mainly by services and industry.

"Mid-term projections are based both on our research and analytical materials of international organizations", the minister said. He added that the program envisages reduction of the deficit from 3.9% for 2011 to 3.1%, and then to 2.4%.

Armenia's GDP in 2010 grew by 2.6% compared with 2009, twice of the planned target of 1.2% amounting to 3.509.6 trillion drams. The 2011 budget projects a 4.6% economic expansion. ($ 1 - 369.42 AMD).  -0-


Tags: , , Новости Армении АМИ Новости-Армения

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