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ARMENIAN FINANCE MINISTRY EXPECTS 7% GDP GROWTH, LESS THAN 4% INFLATION IN 2012
Interfax
Oct 24 2012
Russia
Armenia's GDP will grow by roughly 7% in 2012, Armenian Finance
Minister Vache Gabrielyan said while presenting draft changes to the
minimum wage law at the parliament on Tuesday.
This year's budget envisages 4% inflation, plus or minus 1.5 percentage
points, "although in reality it will be below 4%," Gabrielyan said.
Armenia will have 3.4% inflation next year. "That is a sufficiently
low figure that will not have a significant influence on spending by
the population," he said.
According to the draft law presented by Gabrielyan, the minimum wage
will be raised from the current level of 32,500 dram to 35,000 dram.
Armenia's minimum consumer basket will total around 50,000 dram.
Gabrielyan said that the minimum wage should rise to 45,000 dram in
2014 and to 65,000 dram within five years.
At the beginning of October, the International Monetary Fund (IMF)
lowered its forecast for Armenian GDP growth from 6.2% to 3.9% for
2012. This year's state budget assumes GDP growth of 4.2%.
The Armenian economy expanded by 4.6% and had 4.7% inflation in 2011,
compared to 9.4% inflation in 2010.
The official exchange rate on October 24 was 405.92 dram/$1.
Interfax
Oct 24 2012
Russia
Armenia's GDP will grow by roughly 7% in 2012, Armenian Finance
Minister Vache Gabrielyan said while presenting draft changes to the
minimum wage law at the parliament on Tuesday.
This year's budget envisages 4% inflation, plus or minus 1.5 percentage
points, "although in reality it will be below 4%," Gabrielyan said.
Armenia will have 3.4% inflation next year. "That is a sufficiently
low figure that will not have a significant influence on spending by
the population," he said.
According to the draft law presented by Gabrielyan, the minimum wage
will be raised from the current level of 32,500 dram to 35,000 dram.
Armenia's minimum consumer basket will total around 50,000 dram.
Gabrielyan said that the minimum wage should rise to 45,000 dram in
2014 and to 65,000 dram within five years.
At the beginning of October, the International Monetary Fund (IMF)
lowered its forecast for Armenian GDP growth from 6.2% to 3.9% for
2012. This year's state budget assumes GDP growth of 4.2%.
The Armenian economy expanded by 4.6% and had 4.7% inflation in 2011,
compared to 9.4% inflation in 2010.
The official exchange rate on October 24 was 405.92 dram/$1.