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ArmeniaGlobe: Economic growth of Armenia made 12.7% in 2002

Yerevan, January 15, 2002. (CNA). In 2002 Armenia’s economic growth made 12.7%, inflation being 2%, Finance Minister Vartan Khachatryan said. According to him, the year was the first to finish without budget debts, all programs built into the budget successfully carried through.

The minister reported that the budget had been executed by 103% as regards receipts. Vartan Khachatryan also emphasized that budget debts of the former years had been financed for 27.868 billion drams instead of the planned 7.9 billion. Armenia’s budget deficit amounted to 40.989 billion drams ($1 equals 579.03 drams).

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