2012 successful for Armenian economy, Minister says

Nvard Davtyan

“2012 can be considered a successful year for Armenia’s economy. We’ll manage to close the year with indices much higher than those envisaged by state budget 2012,” Minister of Economy Tigran Davtyan told a press conference today, summing up the results of the passing year.

According to the Minister, the GDP growth will make 7% instead of the 4.2% envisaged. The fields of the real sector of economy have developed most rapidly, he said, adding that this first of all refers to the sphere of industry, where the growth is expected to reach 10%.

“The volumes of production have exceeded the threshold of 1 trillion AMD as of November. This is unprecedented. We had never had that volume of production in post-Soviet Armenia,” Tigran Davtyan said.

According to the Minister, the exports have exceeded important about 2.5 times, and the trend is expected to continue in the coming years.

“When speaking about economic indices, we should keep in mind that they have been registered in a period when global economy faces serious challenges, i.e. we have achieved growth against the background of recession processes in world economy,” Tigran Davtyan said.

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