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IMF LOWERS ARMENIAN GDP GROWTH FORECAST FOR 2012 TO 3.8%
Interfax
March 28 2012
Russia
The International Monetary Fund (IMF) has lowered its forecast for
Armenian GDP growth in 2012 from 4% to 3.8%, IMF Mission in Armenia
Head Mark Horton said at a press conference following a visit to
Yerevan from March 14 to 27 on Tuesday.
Horton noted that the rate of economic growth had slowed. The new
forecast is lower than actual GDP growth in Armenia in 2011, which
was 4.4%.
External factors are the main reason for the slower rate of economic
growth, especially slower economic growth in Europe, said Horton. Among
the domestic factors slowing growth is the continued slump in the
construction industry, although all other sectors are registering
growth.
Commenting on the inflation forecast, Horton said external price
pressure is going down and inflation is expected to remain within
the range given by the Central Bank of Armenia - 4%, give or take
1.5 percentage points.
The 2012 Armenian budget contains a GDP growth forecast of 4.2%
and inflation of 4%, give or take 1.5 percentage points.
The Finance Ministry reports that GDP expanded 4.6% in 2011, in
accordance with the budget forecast.
Inflation was 4.7% in 2011 and 9.4% in 2010. The 2011 budget had
envisaged inflation of around 4% (give or take 1.5 percentage points).
The IMF predicted inflation of at least 5% per year in 2011-2012.
The World Bank predicts economic growth of 4.2% per year in 2012-2013
and inflation of 4%-4.5%.
From: Emil Lazarian | Ararat NewsPress
Interfax
March 28 2012
Russia
The International Monetary Fund (IMF) has lowered its forecast for
Armenian GDP growth in 2012 from 4% to 3.8%, IMF Mission in Armenia
Head Mark Horton said at a press conference following a visit to
Yerevan from March 14 to 27 on Tuesday.
Horton noted that the rate of economic growth had slowed. The new
forecast is lower than actual GDP growth in Armenia in 2011, which
was 4.4%.
External factors are the main reason for the slower rate of economic
growth, especially slower economic growth in Europe, said Horton. Among
the domestic factors slowing growth is the continued slump in the
construction industry, although all other sectors are registering
growth.
Commenting on the inflation forecast, Horton said external price
pressure is going down and inflation is expected to remain within
the range given by the Central Bank of Armenia - 4%, give or take
1.5 percentage points.
The 2012 Armenian budget contains a GDP growth forecast of 4.2%
and inflation of 4%, give or take 1.5 percentage points.
The Finance Ministry reports that GDP expanded 4.6% in 2011, in
accordance with the budget forecast.
Inflation was 4.7% in 2011 and 9.4% in 2010. The 2011 budget had
envisaged inflation of around 4% (give or take 1.5 percentage points).
The IMF predicted inflation of at least 5% per year in 2011-2012.
The World Bank predicts economic growth of 4.2% per year in 2012-2013
and inflation of 4%-4.5%.
From: Emil Lazarian | Ararat NewsPress