Rapid Economic Growth?

The economy continued its steady growth form the collapse in 2009 when it shrank by 14.1 percent, hit hard by the global financial crisis. It grew at an annual rate of 8 percent for the first two months of this year, following a GDP growth of 7.2 percent in 2012.
The construction sector continues to drag the economy and declined at an annual rate of 8 percent. In contrast the industrial sector more than offset this reduction by expanding by 16 percent.
While growth through February is very promising, is Armenia in a full recovery mode from the 2009 crisis and how badly will it be impacted by the ongoing rolling crises in a number of European countries?