Thursday, August 18 2011 12:19
Armenia to see 4.7-5.5% economic growth in 2011 and 3.3-4.6% in 2012
ArmInfo. Armenia's economic growth outlooks for the second half of 2011 and 2012 have been raised to respective 4.7-5.5% and 3.3-4.6%.
According to the monetary-credit policy of the Central Bank of Armenia for Q3 2011, this is due to growing global demand and improving investment climate.
In industry added value will grow by 8.3-10.3%, in construction - by 0.6-2.6% in 2011 and 2.2-4.2% in the first half of 2012, in services - by 3-5% and 2.2-4.2%, in agriculture - by 6.1-8.1% and 6-8%, respectively.
The CB's previous economic growth forecast for 2011 ranged within 4.1-5.7% (with 30% probability) or 2.3-8.9% (with 90% probability). In the 30% case the CB expected 3.6-4.4% economic growth in Jan-June 2011 and 4.1-5.2% in Jan-Sept 2011, in the 90% case - 2.7-6% and 2.7-7.7%, respectively. In industry added value was expected to grow by 6-8%, in construction - by 2-4%, in services - by 3.5-5.5% and in agriculture - by 7-9%.
The National Statistical Service of Armenia reports 9.6% economic growth in June 2011 against 2.3% growth in June 2010. In agriculture growth was 40.8% to 66.3bln AMD or $177.1mln, in services - 7% to 73.1bln AMD or $195.1mln, in industry - 5.8% to 87.2bln AMD or $233mln.
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