President Serzh Sargsyan commented on Armenia’s economic development at the National Security Council sitting.

According to the President, Armenia’s economic development rate exceeded those of neighboring countries despite many difficulties the country is facing. “In 2012, Armenia posted economic growth of 7,2%, with the result to continue into 2013, while the inflation rates will remain relatively low and manageable,” he noted.

The president stressed the importance of growth in all sectors of economy in overcoming the crisis, with economy diversification having yielded positive results.

He further urged for initiation of new projects and economy modernization, with anti-hail systems to be created along with overcoming the consequences of the devastating hail.

The Armenian leader predicted serious regional changes within 3-4 years.

President Sargsyan slammed Azeri policy of hatred, noting that political and economic landmines in the country will soon explode. “The country’s poor planning in the face of dwindling oil and gas production will inevitably lead to a fiasco, while Azeri youth will speak up against the social injustice in the country,” he said.