Armenia’s Economy In 2011 March Expands By 2.7%: Central Bank Of Armenia Says

20.05.2011 21:12
Armenia’s Economy In 2011 March Expands By 2.7%: Central Bank Of Armenia Says

YEREVAN, May 20. /ARKA/. Armenia’s economy in 2011 March expanded by 2.7% as opposed to 2010 March, the Central Bank of Armenia (CBA) said in a report sent to ARKA news agency.

It said the growth was due to 5.9%, 5.5% and 2.9% rise in industry, construction and services sectors respectively, while the added value in the agricultural sector dropped by one percent due to reduced production of eggs against the backdrop of unchanged indicators in plant growing and cattle breeding.

Nonetheless, the CBA said the earlier made GDP projections remain in force.

Regarding foreign trade indicators, the report says the cost of exports of goods and services in the first quarter of 2011 rose by 20%, while the cost of goods imports rose only by 5.1%.
The Central Bank report says also in April 2011 the average interest rate on state treasury bonds with a 12 month maturity period grew by 2.1 percentage point at the primary market to 9%, while the interest rate on REPO grew by 1.1 percentage point to 9.3%. At inter-bank market interest rate on REPO grew by 0.4 percentage point to 8.3%.

The Central Bank says also in April the average exchange rate of Armenian national curency, the dram, lost 1.4% against US Dollar if compared to March. -0-


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