Xinhua General News Service, China
June 18, 2012 Monday 1:18 AM EST

Armenian new go't rolls out 5-year plan to combat recession

YEREVAN Armenia, June 18

The newly-assembled Armenian government on Monday introduced a
five-year plan at its first meeting, pledging to pull the Caucasian
state out of a two-year recession.

In the session chaired by President Serzh Sargsyan, Prime Minister
Tigran Sargsyan announced that his government would double the minimal
wage, reduce poverty rate by 8 to 10 percent, create more than 100,000
jobs and bring birthrate up to 1.8 percent.

President Sargsyan said he expected the economy to grow 7 percent this
year, after a devastating contraction of 14 percent in 2009.

In addition to recovering the economy, the government also has to deal
with an external debt of 3.57 billion U.S. dollars.
The new government came to office after the president's Republican
Party won parliamentary elections in May.

From: A. Papazian