YEREVAN, November 8. /ARKA/. GDP to see a 7.1% growth in Armenia this year from 2011, a head of the commission for financial-credit and budget affairs Gagik Minasyan said Thursday.

According to the National Statistical Service of Armenia, the GDP climbed 6.6% to over 878.8 billion drams in the second quarter 2012 compared to the same period a year earlier. Armenia’s economy is to see a 4.2% growth, according to the state budget. Minasyan said GDP growth will stand at 6.2% in 2013.

“If you look through the CIS (Commonwealth of Independent States) members, you will find no state without oil and gas which reports such a high and sustainable GDP growth,” Minasyan added.
He also noted that the republic had succeeded  in macroeconomic stability.

“It doesn’t refer to inflation only, even though inflation rate has hit 3.4% over the recent months and will stand at the projected 4±1.5% in 2012’s out,” Minasyan said. According to him, the same inflation rates are projected for the next year.

Minasyan highlighted that Armenia’s 2013 state budget draft ensures a significant GDP growth and high stability of the macroeconomic indicators.

According to him, budget incomes will rise 13% to 1 trillion 31 billion drams, expenditures- by 10% to 1 trillion 151 billion drams, and the deficit will slash by 13 billion drams to 119 billion drams.

He said the parliamentary commissions are successfully discussing the budget draft. ($1 – 407.93 drams). —0-