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IMF REDUCES GDP GROWTH FORECAST FOR ARMENIA IN 2012 TO 3.9%, 2013 FORECAST AT 4%
Interfax
Oct 9 2012
Russia
The International Monetary Fund (IMF) forecasts GDP growth in Armenia
in 2012 and 2013 at 3.9% and 4%, respectively, the IMF said in its
World Economic Outlook.
According to the results of the fifth survey on the implementation
of the EFF/ECF loan agreements over September 5-18, the IMF forecast
Armenian GDP growth at 6.2% in 2012 and 4.3% in 2013.
The head of the IMF mission to Armenia, Mark Horton, said that
Armenia is still experiencing steady inflation within the Central
Bank's ceiling of 4% (plus or minus 1.5%) for 2012-2013. The budget
deficit for 2012 should come to 2% of GDP, the IMF said. This figure
will increase to 2.6% in 2013.
At the same time, Armenia's Central Bank is still holding to inflation
targeting and a floating exchange rate. However, the IMF has noted
a slowdown in the rate of structural transformation and says that
Armenia should create equal conditions for all economic entities in
the country.
It was earlier reported that the Armenian budget for 2012 puts GDP
growth at 4.2% in 2012. The country's economy expanded by 4.6% in 2011.
Inflation in Armenia in 2011 came to 4.7% compared to 9.4% in 2010.
From: Emil Lazarian | Ararat NewsPress
Interfax
Oct 9 2012
Russia
The International Monetary Fund (IMF) forecasts GDP growth in Armenia
in 2012 and 2013 at 3.9% and 4%, respectively, the IMF said in its
World Economic Outlook.
According to the results of the fifth survey on the implementation
of the EFF/ECF loan agreements over September 5-18, the IMF forecast
Armenian GDP growth at 6.2% in 2012 and 4.3% in 2013.
The head of the IMF mission to Armenia, Mark Horton, said that
Armenia is still experiencing steady inflation within the Central
Bank's ceiling of 4% (plus or minus 1.5%) for 2012-2013. The budget
deficit for 2012 should come to 2% of GDP, the IMF said. This figure
will increase to 2.6% in 2013.
At the same time, Armenia's Central Bank is still holding to inflation
targeting and a floating exchange rate. However, the IMF has noted
a slowdown in the rate of structural transformation and says that
Armenia should create equal conditions for all economic entities in
the country.
It was earlier reported that the Armenian budget for 2012 puts GDP
growth at 4.2% in 2012. The country's economy expanded by 4.6% in 2011.
Inflation in Armenia in 2011 came to 4.7% compared to 9.4% in 2010.
From: Emil Lazarian | Ararat NewsPress