Regulator: economic activity in Armenia for Jan-Oct 2012 recorded at 7.2%

21.12.2012 17:56
Regulator: economic activity in Armenia for Jan-Oct 2012 recorded at 7.2%

YEREVAN, October 21. /ARKA/. Economic activity in Armenia in Jan-Oct 2012 was recorded at 7.2%, the press office of the Central Bank of Armenia said today in its report presenting the results of the bank board’s meeting held on December 11.

The press office says this situation is mainly due to 10% and 8.2% year-on-year growth in industry and agriculture respectively in Jan-Oct 2012.

Construction and services showed 4.5% and 5.7% growth respectively.
Exports have grown 7.3% and imports 2.1% in Jan-Oct 2012, compared with the same period a year earlier.

Net inflow of individual noncommercial money transfers has grown 10.9%.
According to the central bank, individual consumption is expected to be recorded at 7.9% by the end of this year and investment growth at 4.4%.

The regulator’s press service also reports that 1.4% inflation was recorded in November. As a result, the 3.6-percent 12-month inflation rate remained unchanged continuing to come closer to the projected rate.

November’s inflation was mainly due to 2.4% increase in prices for foods, especially in bread and bakery products (10.7%), meat products (3.5%), vegetable oil and adipose (3.4%) as well as vegetables and potatoes (1.7%).

In the 2012 government budget, economic growth is projected at 4.2%, and inflation at 4 ±1.5%. -0--


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