Wednesday, January 17 2018 10:26
Karine Melikyan

According to the Central Bank of Armenia, GDP growth in 2017 will be 6.4%

According to the Central Bank of Armenia, GDP growth in 2017 will be  6.4%

ArmInfo. According to the  Central Bank of Armenia, GDP growth in 2017 will be 6.4%, which is  mainly caused by higher (by 2 percentage points) than expected growth  rates of private consumption and private investment. This was  reported in the press service of the Central Bank of Armenia.

Earlier, the Central Bank's Monetary Policy Program (MPP) for the IV  quarter, published in November 2017, indicated GDP growth of 4.4-4.9%  (4.6% on average), and medium-term forecasts were: 2018 - 3 , 5-  4,6%, 2019 - 3,5-4,9%, 2020 - 3,8-5,4%. In the same LCP program, the  acceleration of private consumption growth was expected from the  previous 4.8% to 7.4% and an increase in private investment by 6%. It  should be noted that the World Bank's forecast updated in January  2018 envisages the GDP growth of Armenia in 2018 by 3.8% with the  acceleration in 2019 to 4%, against the expected 3.7% growth in 2017. 

Fitch improved the GDP growth forecast for Armenia in 2017 to 4.3%  from the previously projected 3.4%, and sees the possibility of  accelerating growth by an average of 3.6% in 2018-2019. The budget of  Armenia for 2018 laid the growth of GDP by 4.5%. According to the  National Statistical Service of Armenia, in Armenia, economic  activity growth accelerated in January-November 2017 to 7.3% from  last year's 0.6% in 11 months of 2016. Drivers of growth were trade,  services and the industrial sector. Inflation in Armenia's consumer  market in January-December 2017 was 2.6%, with annual inflation (by  January- December 2016) of 1%.

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