Tuesday, November 15 2011 19:04

First months of 2011 in Armenia marked by export growth against the background of gradually recovering world economy


ArmInfo. The first months of 2011 in Armenia were marked by export growth against the background of the gradually recovering world economy, Chairman of the Central bank of Armenia (CBA) Arthur Javadyan said in parliament on November 15.

According to him, the economy growth rates in Q1 2011 made up 2.2%, in Q2 abruptly increased to 3.9%. The growth rates for the year are estimated at 4.6%.

He stressed that in Q1 the economy growth was mostly due to industry and services, in Q2 agriculture was added to these spheres. Positive trends were registered in inflation due to stabilization of prices in the world markets of food and energy resources, as well as due to the control over monetary policy and supply growth in the sphere of agriculture, which led to gradual reduction of inflation.

In August inflation made up 4.8%. In case of coordinated monetary policy, inflation may make up 4% (+ / - 1.5%) at the end of the year.

To note, according to the latest forecasts of International Monetary Fund, inflation in Armenia in 2011 will make up 5%, and GDP growth - 4.6%.
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