Armenian Government Expects GDP To Grow By 6.9% In 2014

[Emil Lazarian]

ARMENIAN GOVERNMENT EXPECTS GDP TO GROW BY 6.9% IN 2014

YEREVAN, July 4. /ARKA/. Armenia's economy in 2014 is expected to
expand by 6.9%, according to finance minister David Sargsyan, who
unveiled today the government's medium-term public spending designed
for 2014- 2016. He said also that the government expects the GDP to
grow by 10 percent in 2015 and 11 percent in 2016.

The minister noted that the projected GDP growth for 2014 suggests that
the government will have to collect 1.146 trillion drams in revenue,
which will be 23.63% of the GDP, and spend 1.258 trillion drams or
25.93% of the GDP.

Earlier a Central Bank of Armenia Board member Arthur Stepanyan said
that the GDP growth in 2014 may decline to 4.3% due to higher prices
of natural gas and electricity. The EBRD and the IMF project that
the GDP growth will slash to about 4% in 2014.

Armenia's GDP in 2012 was officially reported to grow by 7.2%. The
government's GDP projection for this year is 6.2%. President Serzh
Sargsyan said earlier the government should ensure a 7% growth. -0-

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From: Emil Lazarian | Ararat NewsPress