Armenian govt forecasts 6%-7% GDP growth in 2005-2007

Interfax
June 21 2004

Yerevan. (Interfax) – The Armenian government is forecasting growth
in GDP in 2005-2007 of 6%-7% per annum and average yearly inflation in
this period is planned at not more than 3%, Armenian Finance Minister
Pavel Safarian said at a press briefing.

He said that in absolute terms GDP in 2005-2007 would amount to 1.953
trillion dram, 2.133 trillion dram and 2.33 trillion dram respectively.

The deputy minister said that the government approved a mid-term
program for expenditure in 2005-2007. He said that priority would be
given to expenditure on education, healthcare and social welfare.

Armenian GDP in 2003 increased 13.9% year-on-year to 1.62 trillion
dram. The Armenian Central Bank forecasts that inflation in the
republic in 2004 will not exceed 3%. Consumer prices increased 8.6%
in 2003.

The official exchange rate on June 17 was 545.63 dram to the dollar.