Economic growth in Armenia believed to stand at 3.4-3.6% in 2015 – central bank

24.11.2015 17:15
Economic growth in Armenia believed to stand at 3.4-3.6% in 2015 – central bank

YEREVAN, November 24. /ARKA/. Economic growth in Armenia is believed to stand at 3.4-3.6% in 2015, the Central Bank of Armenia says in an inflation report based on its monetary policy program for the fourth quarter of this year and performance of the monetary policy in the third quarter.

The regulator says in its report that GDP growth exceeded outlooks thanks to a higher-than-expected growth in industry and services.

According to the National Statistical Service of Armenia, economic activity stood at 3.7% in Jan-Sept 2015.

Industrial output growth was recorded at 4.8%, gross agricultural product growth at 11.3%, services 2.5% and construction 0.1%, while trade fell 5.6%.

The central bank says private consumption expenses reduced by 7% and private investments shrank 10%.

The Central Bank of Armenia raised its expectations for economic growth in 2015 to 3.2-3.9%.

In the government budget for 2015, GDP growth is projected at 4.1% and inflation at 4% (±1.5%). -–0----


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