ARMENIA-PRESIDENT-ECONOMY-GOALS

Yerevan, June 18 (Interfax) – Armenian President Serzh Sarkisyan said at an extraordinary cabinet meeting on Monday that the new government formed after the parliamentary elections in May must ensure economic growth of 7% in 2012.

Armenia’s state budget targets GDP growth of 4.2% for this year.

“The main expectation from the activities of the government in 2012 is ensuring 7% economic growth. But economic growth is not a goal unto itself. Our objective is to build strong foundations for sustainable and gradual economic development, reduction of poverty and its elimination in the foreseeable future,” Sarkisyan said.

He said the new Cabinet has not changed dramatically, “but this does not meat that we don’t expect revolutionary changes from the government.”

At the Monday meeting, the Cabinet approved a five-year program of action. Prime Minister Tigran Sarkisyan said the program targets annual economic growth of 5-7% in 2012-2017.

[AR EUROPE EEU EMRG POL MCE PRO]

15:55:08 EET-2