YEREVAN, December 2, /ARKA/. Armenian economy this year will have grown by 5 percent, economy minister Tigran Davtian said today. Speaking at a news conference he described the outgoing year as ‘economically successful,’ adding that the expansion is due to a robust industrial growth that is expected to be within 12-13 percent.

According to the minister, Armenian exports will also see a substantial full-year growth of 20-25 percent and the tourism has risen as of today by 13 percent.

In comments on a decline in construction sector the minister said he would not consider it as something negative because the drop is smoothing an imbalances that existed in the economy several years ago.

‘Now our economy is more balanced," he said.

According to official data, in October 2011 the construction industry recorded a 25% decline to 46.2 billion drams, a 6.7% decrease compared to September.

Davtian added it is difficult to assess the degree of external risk today.

"But I am optimistic and believe that the international structures, political and economic leaderships will find a way to reduce these risks in the global economy", he concluded.

According to the government projection, the GDP is to grow this year by 4.6 percent. ($1 - 381.06 AMD).  -0-