23.05.2012 20:24
YEREVAN, May 23, /ARKA/. Armenia’s Central Bank said today it has revised upward its economic forecast for this year to 3.5-4.8 percent. These figures can be found in its monetary policy program designed for the second quarter.
“The forecast is revised upwards due to increasing positive expectations with regard to world economic growth which is expected to accelerate the recovery of both domestic and foreign demands in Armenia,’ the Central Bank said.
It said also it expects the industrial output growth to be within 8.5-10, 5% thanks to increasing output of mining, metallurgical and food sectors as well as anticipated rise in energy production.
The Central Bank has revised downward its forecast for construction sector to 2.5-4.5%. The slight growth is supposed to be secured by construction projects energy, agriculture, transport and communication sectors.
The regulator has revised upward its forecast for services saying the sector may grow by 2.8-4.8%. The forecast for agriculture is 3-5%. The government GDP growth projection is 4.2%.--0--
YEREVAN, May 23, /ARKA/. Armenia’s Central Bank said today it has revised upward its economic forecast for this year to 3.5-4.8 percent. These figures can be found in its monetary policy program designed for the second quarter.
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