Monday, February 25 2013 16:56

Armenia's Central Bank forecasts 4.7-5.7% economic growth in 2013


ArmInfo. There is a 30% probability that economic growth in Armenia in 2013 will be 4.7-5.7% and a 90% probability that it will be 3.1-7.9%, reports the Central Bank of Armenia.

In its previous report the CB forecasted 5-6% economic growth for the year.

Industry will grow by 7-9% against 8-10% in the previous report, construction by 2.5-4.5% (no change), services by 4.2-6.2% (against 4.5-6.5%), agriculture by 2-4% (no change).

The National Statistical Service of Armenia reports that in 2012 economic activity in Armenia grew by 7.2% due to 8.7% growth in services, 7.1% growth in industry, 4.8% growth in trade, 3% growth in construction and 2.8% growth in agriculture.

In 2012 industrial production made up 1.12tln AMD or $2.8bln, construction 469.7bln AMD or $1.2bln.

Armenia's national budget stipulates 6.2% GDP growth in 2013. Industry is supposed to grow by 9.5%, agriculture by 6.5%, services by 4.5%, construction by 2.3%.
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