Armenian GDP to grow by 7%

Armenian Minister for Finances Vache Gabriyelyan said that the GDP of Armenia will grow by 7-7.1% in 2012, although 4.2% was expected, ARKA reports.

12-month inflation was to total 4%, average annual – 2.5%. Deficit should remain at about 10.5%. Export growth rate exceeded that of import twice.

Gabriyelyan says that the economic plan may change due to construction of the North-South Highway.

The EBRD says that Armenia has a GDP growth of 5%, the IMF says 6.2%, WB says 4.5%.

Adapted from: Vestnik Kavkaza