Wednesday, August 4 2010 16:22
Central Bank of Armenia forecasts 5,7-6,4% economic growth in 2010, and 5-6% growth in the first half- year of 2011
ArmInfo. Economic growth in Armenia will make up at least 5,7-6,4% in 2010, and 5-6% in the first half-year of 2011, says the monetary program of the Central Bank of Armenia (CBA) for Q3 2010.
According to the source, the CBA has revised the forecasts in favor of economic growth due to acceleration of the world demand restoration. The risks related to economic growth are connected with both foreign and domestic factors. The prevalence of risks concerning the economic growth forecast is conditioned by both further development of the world economy and expected growth in the domestic demand in the spheres of transport and energy, as well as by implementation of infrastructure projects.
In the sphere of industry forecasts are revised in favor of restoration of growth rates; as a result, the real growth of the added value in this sphere will make up 7-9%, and in the first half-year of 2011 - 6-8%. In capital construction also growth rates are forecasted, thanks to which the real growth of the added value will range from 10,5% to 12,5%, and in Jan-June 2011 - 6-8%. In the sphere of services the added value growth is forecasted at 5-7%, and in Jan-June 2011 - 3-5%. In the sphere of agriculture the real growth of the added value is forecasted at 3-5% by the end of 2010.
According to the National Statistical Service of Armenia, in Jan-June 2010 Armenia's GDP grew by 6,7% as compared with the same period of 2009, and in June - by 31,7% as compared with May. In absolute terms the GDP amounted to 1332 bln AMD, or $3.5 bln in Jan-June 2010 at market prices. At main prices GDP grew by 4,7% to 1148 bln AMD ($3 bln). In Jan-June 2010 the GDP deflator index grew by 9,1%.
To note, the International Monetary Fund forecasts GDP growth in Armenia in 2010 at 4,8%, and inflation at 6,2%.
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