YEREVAN. – According to initial estimates, the expected deficit of Armenia’s 2013 State Budget will comprise 1.6-1.8 percent, Finance Minister Davit Sargsyan stated at a press conference on Wednesday.

In Sargsyan’s words, as a result of the 2013 activities, the expected growth in Armenia’s GDP is 3.5 percent.

“We have not summed up the final results, but the economic activity index for 2013 increased by the same 3.5 percent; we expect the GDP growth to likewise be at this level,” the minister said.    

Sargsyan noted that, according to the Finance Ministry estimates, the rise in natural gas and electricity prices since July 2013 inhibited Armenia’s economic growth by 1-1.3 percent. In other words, the country’s economic growth could have amounted to 4.5-4.8 percent.