Friday, July 8 2011 19:50

Tigran Jrbashyan: In 2011 GDP growth in Armenia to make up 5-5.2%


ArmInfo. By the end of this year economic growth in Armenia will make up 5-5.2%, Development Manager of Ameriabank Tigran Jrbashyan said during a press-conference today.

He said that inflation will make up 7%. The key factors causing inflation are growing food and oil prices worldwide. Recently this growth has slowed down, so, one should not expect very high inflation in Armenia.

30% growth in money transfer flow in Jan-June 2011 has alleviated tension on the foreign exchange market. "The Central Bank has already softened its monetary-credit policy and is keeping its official rate stably at 8.5%, which means that it is confident that the current inflation will stay unchanged," Jrbashyan said.

According to the National Statistical Service of Armenia, in Jan-June 2011 Armenia's GDP totalled 615.9bln AMD or $1.7bln (1.2% more than in Jan-June 2010), economic activity grew by 13.7% in May and by 9.9% in Jan-June 2011. In Jan-June 2011 there was 3.5% inflation, in June 2011 alone - 1.4% deflation.

The World Bank forecasts 5-6% inflation in Armenia by the end of this year, the IMF expects 4.6% economic growth.
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