Minister of Finance predicts a 7% growth next year

Hasmik Dilanyan

Armenian Minister of Finance Vache Gabrielyan describes the passing year as successful and predicts a 7% economic growth and low inflation rate in 2013.

According to the Minister, steps have been taken towards improvement of the business environment, but the foreign investments in Armenia have dropped 40%. Mr. Gabrielyan says this is a temporary phenomenon and assures that the investments will considerably increase next year.

The Minister of Finance is sure that the downfall of the past few years will be replaced by growth in 2013.

“According to our predictions, we’ll have an economic growth that will slightly exceed 7%. It will be accompanied by a low inflation rate. The 12-month inflation rate will make 4%, while the average rate will be at the level of 2.5%,” he said.

According to Vache Gabrielyan, the second wave of the financial-economic crisis is possible, but the likelihood is low.

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