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The year 2007 is one of the successful years with its indicator of 13.6 percent economic growth. The two digit growth reported in the course of recent seven year testifies that the reforms are effective and we have stable and dynamically developing economy. I am sure that we have real chances of two digit economic growth in the coming 4-5 years. This was said by President Robert Kocharyan while he described the passing economic year during his traditional meeting with more than 60 representatives of the business community at the close of the year.

“The state budget is completely performed although we increased it by 38 billion drams in the course of the year. Even that surplassed budget is over-performed. This enabled the state to fully meet its commitments and solve very serious social issues,” the head of the country said.

In the words of the president, the capital expenditures have gone up directed particularly to infrastructure – road construction and water supply system. There are serious chances to raise the old age pensions and allowances.

Kocharyan said everything possible will be done so that the citizens have the chance to improve their housing and life conditions. The president mentioned that the business community has its contribution to all the success stories. He pinpointed to the relation of partnership between the business community and the government.

Speaking about next year expectations, the president mentioned that the bank and information technologies are going to develop. He also said developments are expected in the mining industry. In the words of Kocharyan, more than half billion dollars of investment is expected in the mining industry in the coming next years.

President press services report that Kocharyan also spoke about the issue of monopolies saying they speak about economic entities with dominant position. He said the fact that new economic entities do not enter into their field may be explained by psychological factors, also saying consistent work must be done to overcome that.

Kocharyan also spoke about the presidential elections. He assured that everything will be done so that the political developments have no negative impact on the field of economy, saying such experience was observed.