Poverty expected to reduce 2-3 percent
The economic growth in Armenia totaled 7,1 percent in 2012, given the 4 percent of average inflation, Minister of Finance Vache Gabrielyan told reporters on Monday.
The growth was felt in all sectors. The Minister says the national budget was replenished by AMD 792,1 bln of tax revenues, state duties and mandatory social payments in January-November 2012.
"All branches of economy will grow next year. Only, the sector of construction will not register significant growth. However, there will be changes in this sector as well because the North-South Road Corridor construction will get underway," Gabrielyan said.
He says the growth rate of exports will exceed that of imports over two times.
Armenia's state budget revenues totaled AMD 841 bln in January-November 2012, with expenditures amounting to AMD 831,6 bln.
On the whole, the minister says the fiscal year was successful for Armenia if compared with the regional developments, as the economic growth in other countries amounted to 4-5 percent.
In conclusion, Mr Gabrielyan said that poverty level which totaled 35,1 percent this year, is expected to reduce by 2-3 percent.
