YEREVAN. – The year 2012 was successful for the economy of Armenia, Minister of Economy Tigran Davtyan stated during a year-end press conference on Wednesday.   

Specifically, and in line with the November data, the volume of industry in the country exceeds AMD 1 trillion [approx. $2,457,108,570] for the first time in the post-Soviet era. 

As per Davtyan, it will be possible to end the passing year with figures that will be considerably higher than the numbers that were planned pursuant to the law on the budget. That is to say, instead of the planned 4.6 percent GDP growth, the annual growth will be around seven percent.

“It is pleasing that the branches of the real sector have developed at a faster and a more progressive pace,” Davtyan said.      

Also, the minister recalled that the Government of Armenia approved development programs for five industrial sectors: precision machinery, winemaking and brandy production, light industry, pharmacy, and jewelry diamond production.      

“It is no coincidence that these sectors recorded a progressive pace. [And] The developments will be continuous in 2013-14,” Tigran Davtyan noted.