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-
