Armenian Central Bank projects 4.1%-5.7% economic growth in Armenia in 2011

04.02.2011 17:16
Armenian Central Bank projects 4.1%-5.7% economic growth in Armenia in 2011

YEREVAN, February 4. /ARKA/. The Central Bank of Armenia projects 4.1-to-5.7-percent economic growth for 2011.

In its 2011 monetary policy program, the regulator says economic growth risks depend on both inside and outside factors.

Industry’s six-to-eight-percent VAT will mainly be filled by the expected growth in mining and metallurgic industries’ output and high prices for nonferrous metals in world markets.

The expected growth in food industry’s output will add a great deal to VAT as well.

Construction is expected to show two-to-four-percent VAT growth, services 3.5 to 5.5% growth.

The central bank’s outlooks for agriculture segment are optimistic as well. The regulator projects seven-to-nine-percent VAT growth there. Cattle breeding and plant cultivation will fuel this growth.

In the 2011 government budget, GDP is projected at 4.6%, and inflation at 4±1.5%.-0-


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