The Government’s Minister of Finance Vache Gabrielian summed up macro-economic indicators for the first seven months of 2012.
Vache Gabrielian said, “We have already adjusted estimates of indicators of economic activity. Economic activity indicators are very encouraging. The indicator of construction is still low, but we have a good development at the expense of public construction which is 12 percent. If we compare this with a combination of economic growth of the country, then our estimates show that 6-6.5 percent of the index is the economic growth”.
As a rule, a price reduction is always in July-August, for 2-3 percent. In general, when compared with the rest of the year a low index is recorded for January-July.
The minister confidently states that this year the inflation rate will be fully accessible, if not at the bottom border of the target, but definitely very close.
In general, revenues for the first seven months of this year’s state budget were 489.6 billion, amounting to 638.2 billion planned for 9 months 76.7% of state tax and fee revenues were 475 billion, making 75.9 percent of the 9-month program. As for expenses, they amounted to 503.9 billion, which amounts to 9 months for 73.1 percent of the planned 689 billion.
The minister combined 3-month and 9-month figures, because planning is not monthly, but in terms of costs and revenues in the quarters. All indicators suggest that the pace is good, and are surer about the continuation of economic growth.
