7% economic growth will be recorded in Armenia in 2012, to be accompanied by low inflation rate, Minister of Finance said.

Vache Gabrielyan forecast 4% annual inflation rate in 2012, with average annual index to total 2,5%.

“Significant growth of industrial output volume was reported in all of the fields in 2012, expect for the construction sector,” Minister Gabrielyan said, voicing hope for progress to be recorded in the construction industry due to North-South highway construction.

2012 state budget envisages 4%(±1,5%) inflation rate and 4,2%GDP growth. On June 18, Armenian President instructed the new government to ensure 7% economic growth based on 2012 results.