YEREVAN, June 25. /ARKA/. Armenia's GDP will decline more by the end of 2020 than most of the forecasts predict, the chairman of the Central Bank Martin Galstyan stated at a parliamentary meeting on Thursday.

The head of the Central Bank said that in March 2020 the economic growth was projected at 0.7%, which was lower than the previous forecast of 5.3%.

He listed the areas that would be most affected by the pandemic - they are services and catering, transportation, travel agencies, and construction.

“The pandemic will practically not affect agriculture,” the head of the Central Bank said, emphasizing that there will also be a decline in private consumption and investment.

On April 29, the parliament of Armenia approved a revision of budget indicators to offset the consequences of the COVID-19. The originally projected GDP growth of 4.9% was reduced to 2% Also, the original GDP volume of 7.095 trillion drams was reduced to 6.485 trillion drams and the earlier projected deficit budget of 160.7 billion drams was raised to 324 billion drams. ---0-