ArmInfo. The Central Bank of Armenia raised its forecast for Armenia's economic growth for 2021 to 5.4% from the previously expected 4.6%. Governor of the Central Bank of the Republic of Armenia Martin Galstyan stated this at a press conference on September 14. According to the head of the Central Bank, the main sectors that will contribute to the acceleration of the country's economic growth will be agriculture and the service sector.
In particular, according to the new forecast of the Central Bank, for the current year the agricultural sector will provide growth by 4.2%, and the service sector - by 8.1%, against the previously expected growth in these areas by 2.3% and 6.1%, respectively.
To note, according to the forecast of the World Bank (WB) updated in June, GDP growth in Armenia in 2021 will amount to 3.4%. In its May forecast, the IMF expected GDP growth by 1% in Armenia for 2021.
