Armenian Prime Minister Tigran Sargsyan has said that the 8,8% economic growth in Armenia is conditioned by 3 factors.

“The first is the recovery of Armenian economy. 1% agricultural and 12% construction industry growth was registered. Unemployment rates tend to reduce while salaries continue rising,” he said. “The second is the result of anti-crisis measures taken by the government.”

As to tax, customs and social payments, these reached AMD 270bln, exceeding the envisaged sum by 11,6%.

“This means that we will be able to ensure macroeconomic stability and lower the budgeted deficit to 4,5% instead of planned 6,5%,” the PM said.

The third factor, according to Sargsyan, is the stability of national currency rate achieved as a result of monetary policy pursued by the Central Bank.

“Inflation will be 5-6%,” he said.