Javadyan: Armenia expected to record one-percent economic growth in Jan-Sept 2010

05.11.2009 10:03
Javadyan: Armenia expected to record one-percent economic growth in Jan-Sept 2010

YEREVAN, November 5. /ARKA/. Armenia is expected to record one-percent economic growth in Jan-Sept 2010, Arthur Javadyan, chairman of the Central Bank of Armenia, said Tuesday in an interview with ARKA News Agency.

“This forecast is grounded on outlooks promising improvement in the world economy, particularly higher world demand and ongoing increase in world prices for metals. The bailout steps taken by the government this year, future measures and investments in the economy give grounds for such a forecast as well,” he said.

Javadyan thinks VAT will increase 0.1% in the industry, mainly thanks to expected growth in metallurgy and energy sectors.

He expects 1.7% VAT increase in the construction sector due to construction to be carried out in energy, transport and communication areas.

Agriculture and services will have their VAT increased by 3.8% and 0.7% accordingly.

The 2010 state budget implies 1.3% economic growth. GDP is planned to reach AMD 3 trillion 214 billion in 2010. ($1 = AMD 386.41). --0—


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