Armenian economy minister says GDP may grow beyond planned rate

24.06.2011 16:20
Armenian economy minister says GDP may grow beyond planned rate

YEREVAN, June 24. / ARKA /. Armenian economy minister Tigran Davtian sounded optimistic today saying the government will secure the projected 4.6% economic expansion for this year. Speaking at a news conference he said there are chances that the projected figure may be even higher, but declined to elaborate, saying that will ‘depend on our overall efforts.’

Earlier prime minister Tigran Sarkisian said he expected the GDP to grow twice as much as last year’s 2.6 percent. The World Bank and the EBRD predict a 4.5% growth, and IMF a 4.6% increase.

On inflation Tigran Davtian said its rate is going to drop until the end of the year. "And it's not just my opinion. There are good reason for it," he added.

According to the 2011 government budget, the inflation is projected at 4% (± 1,5%). According to a Central Bank of Armenia estimate, the yearend inflation will be within the target level of 5-6%. The government estimate is 6%, the EBRD expects it to be within the budget-set corridor and the IMF forecasts that it will return to the Central Bank- set corridor in the first half of 2012. -0-


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