Monday, January 16 2012 21:59

Finance Ministry forecasted 4.6% economic growth in Armenia in 2011


ArmInfo. Finance Ministry of Armenia forecasted 4.6% economic growth in Armenia in 2011 as it was envisaged by the state budget for 2011, the ministry's website reports. The report on the budget fulfillment in 2011 is subject to the parliament's consideration after approval by the government.

According to the Ministry's data, economic growth in 2011 was the result of a 1.7% growth of the industrial sector and of 1.6% growth of the agricultural and service sectors each. GDP index deflator totaled 105.7%. GDP per capita for late 2011 totaled $3201. The Ministry estimated the budget deficit (exclusive of the grants, loans and extra-budget programs) at 1.7% of GDP in 2011 instead of the envisaged 2.9% in 2010. Inclusive of the grants and loans, the budget deficit totaled 3.3% versus 5% in 2010.

The budget revenues in 2011 exclusive of grants and extra-budget funds totaled 825.36 bln drams, which was 12.5% more than in 2010, while expenses grew 6.5% to 890.1 bln drams.
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