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We can say that the passing year was successful for Armenian economy, Minister of Economy Tigran Davtyan told reporters in Yerevan.

“GDP growth rate is projected at 5 percent, a little more than envisaged by the state budget,” the Minister said.

According to him, economic growth was ensured mainly thanks to the industrial growth. At the end of the year, the Minister noted, the industrial growth rate is projected at 12-13 percent, the growth rate of exports – at 20-25 percent, and tourism growth rate – at 13 percent. Besides, agricultural field has also recorded growth in Armenia.

“The growth was ensured thanks to the dynamic development of the real sector. Construction industry recorded a fall but I do not think it is negative because we faced economic imbalance in the previous years due to the growth in construction industry, but now we have more balanced economy,” Davtyan said.

As to the predictions of economic crisis for 2012, the Minister thinks that international organizations, political and economic leaders will find ways to cut global economy risks.