Friday, March 15 2013 21:02
Armenia's CB: In 2013 private spending will grow by 4.7%,private investment by 5.1%
ArmInfo. The Central Bank of Armenia has reduced its forecast for private investment growth in 2013 from 5.5% to 5.1% following low growth in 2012.
The forecast for private consumption growth has been raised from 4% to 4.6% but this is still lower than in 2012.
Private spending is expected to grow by 4.7% against an earlier forecast of 4.4% growth. Government expenses will grow by 9.8% against 7.4% forecast earlier, domestic demand by 5.4% against former 4.8%. "In the near future private spending will grow at the same pace with the economy, forestalling decline in private consumption and recovery in private investing. The positive balance of private spending will slide to zero level by the end of 2013, this resulting in no more discrepancy between demand and supply in the private sector and lower inflation pressure on the consumption market (0.3-0.4% drop against earlier forecast 0.2-03%). In 2014 private spending will no longer have influence on inflation," the CB says.
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