The government expects a 6.2% economic growth in 2013

Lusine Vasilyan

Discussions of the draft state budget for Fiscal Year 2013 started at the Standing Committees of the National Assembly today. Prime Minister Tigran Sargsyan briefed the MPs on the main peculiarities and directions of the main financial-economic document. Minister of Finance Vache Gabrielyan and President of the Central Bank presented the main indices and the answered the questions of the MPs.

According to Tigran Sargsyan, the 2013 state budget is based on three main principles – ensuring of economic competitiveness, development of the human capital and development of effective institutions. Based on these principles the government has targeted four objectives – maintenance of economic growth, radical changes in the social sphere, improvement of the business and investment climate and macroeconomic stability.

The government expects a 6.2% economic growth in 2013 instead of the 7% projected for 2012. Tigran Sargsyan reminded about the predictions of the International Monetary Fund and the World Bank, according to which the world economy may find itself in a dangerous condition in 2013. Taking note of these predictions, the government will give preference to the implementation of a cautious macroeconomic policy.

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