The Armenian economy is today more diversified than it was before the
world financial crisis, Deputy Minister of Finance Vardan
Aramyan said, ARKA reports.
He noted that before the crisis some of the capital
construction in the economic growth was too high, but now it yields to
the more important sectors of agriculture and industry.
In January-July 2012, compared to the same period in 2011, economic
activity in Armenia increased by 7.7%. According to the Ministry of
Finance, this is connected to the growth in industry (13.4%) and
agriculture (10.2%).
In addition, exports increased by 13%.
He acknowledged the growth of poverty in the country, noting, however,
that it is lower than often represented. He also mentioned the growth
of salaries in the private sector and the decline of unemployment,
although he did not mention the sources of this data.
According to the World Bank, the level of poverty in Armenia is 35%
compared to 23% in 2010.
According to the budget, Armenian GDP in 2012 should grow by
4.2%.