G. Minasian: 2012 economic growth indices in Armenia more positive

The 2012 economic growth indices of Armenia are more positive compared with world indices, Chairman of the National Assembly Standing Committee on Financial-Credit and Budgetary Affairs Gagik Minasian said at the meeting with reporters today.
According to him, last year’s economic growth index will be released soon, it is expected to amount to approximately 7%. The economic activity index will make 7.2%.

He said that constriction volumes declined after the 2008 crisis, but the sector grew a bit in 2012. A growth was also recorded in industry and agriculture.
“Growth in agricultural sector made 9.5%, the total area of cultivated lands increased; diesel fuel and nitrogen fertilizers were subsidized. The implementation of the program to promote domestic production of fertilizers has been postponed because of the explosion in Vanadzor,” Minasian noted.

Speaking about inflation, G. Minasian said the average inflation rate was 2.6%, the average wage grew to 121,000 AMD, while export growth is 2.5 times import growth. The indices of exports and imports will soon become equal, which is a guarantee of stability.
“In 2012 Armenia’s economic growth indices were more positive than those of CIS countries. Curbing inflation was one of the most important tasks of our economic activities. Tax indices were implemented: 101 million AMD was collected. Foreign debt makes up 37% of GDP,” the committee chairman said.