YEREVAN. – Armenia’s Ministry of Finance publicized its evaluation of the macroeconomic results for 2011. 

In line with this assessment, the economic growth will constitute around 4.6 percent, which is in keeping with the state budget’s prediction. And GDP per capita will be approximately US$ 3,201.  

The industry’s contribution to economic growth will make up 1.7 percent point, and that of services and agriculture will be 1.6 percent point each. The only reduction will be in the construction sector.   

2011 State Budget’s revenues comprised AMD 825.36 billion, which is a 12.5-percent increase from the previous year. The Budget’s total expenditure was AMD 890.1 billion, which is a 6.5-percent growth from the previous year. The Budget’s deficit will constitute 1.7 percent of the GDP, against 2.9 percent of the previous year. And the deficit including grant and loan programs will make up 3.3 percent, against 5 percent of the previous year, and in comparison with the 3.9 percent expected.    

To note, in line with the current exchange rate, US$ 1 is equivalent to approximately AMD 389.