Annual reports on 2011 state budget implementation were made at a joint meeting of Armenian National Assembly standing committees.

“4,7% economic growth was recorded in 2011, which twice exceeds the 2010 index, “ Prime Minister Tigran Sargsyan said.

According to him, high growth rates were recorded in industry and agriculture sectors with price rise curbed as a result.

“With economic achievements reinforced in 2011, Armenia stepped into a recovery stage,” the Prime Minister said, adding that social costs increased by 4,9%, with 12,8% and 8% growth recorded in funds allocated to the healthcare and education sectors.