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IMF PROJECTS 4% ANNUAL ECONOMIC GROWTH IN ARMENIA IN 2013-2015
YEREVAN, January 15. /ARKA/. Armenia's economic growth may hit 4%
and remain unchanged in 2014-2015, says the report on stability of
Armenian financial system published on IMF's website Friday.
Armenia's economic growth will be 3.8% as of the end of 2012, according
to the report.
Earlier, Armenian minister of finance Vache Gabrielyan said that
Armenia's GDP growth is expected to be 7-7.1% by the end of 2012,
as compared to the projected 4.2%. Under the government budget a 6.2%
GDP growth is planned for 2013.
According to the report, Armenia's exports will total $2.5bln in 2012
and imports will amount to $4.9bln. The IMF projects exports worth
a total of $2.7bln and imports worth a total of $5.1bln for 2013.
Exports and imports are expected to amount to $2.8bln and $5.2bln in
2014 and to $3bln and $5.4bln in 2015 respectively, according to the
report. The country's trade red ink will reach $2.8bln by 2015.
According to the most recent data of Armenia's National Statistical
Service, exports were $1,292.2mln in 11 months of 2012, which is an
increase of 6.7% compared to the same period of the year before.
Imports grew by 2.5% to $3,838.5mln in the period, according to the
same source.
Direct foreign investments were $498mln in 2012 and are expected to
grow gradually and reach $624mln by 2015, says the report.
According to the most recent data of Armenia's National Statistical
Service, direct foreign investments in the real economy were about
$221.3mln in Armenia in the 9 months of 2012, as compared to $479.4mln
in the same period of 2011.
The IMF is projecting that Armenia's foreign debt will constitute 67.6%
of GDP by the end of 2012 and will decrease to 61% in 2015
The ministry of finance says Armenia's national debt was $4bln 374.9mln
at the end of 2012 and $3bln 159mln. Foreign debt totaled $3bln 159mln
against $2bln 950mln in 2011, according to the same source.
Earlier, head of WB Armenia country manager Jean-Michelle Happi told
ARKA Agency that, according to debt sustainability analysis (DSA)
by the WB and the IMF, Armenia is assessed as facing low risk of debt
distress. ($1=408.54drams).-0-
YEREVAN, January 15. /ARKA/. Armenia's economic growth may hit 4%
and remain unchanged in 2014-2015, says the report on stability of
Armenian financial system published on IMF's website Friday.
Armenia's economic growth will be 3.8% as of the end of 2012, according
to the report.
Earlier, Armenian minister of finance Vache Gabrielyan said that
Armenia's GDP growth is expected to be 7-7.1% by the end of 2012,
as compared to the projected 4.2%. Under the government budget a 6.2%
GDP growth is planned for 2013.
According to the report, Armenia's exports will total $2.5bln in 2012
and imports will amount to $4.9bln. The IMF projects exports worth
a total of $2.7bln and imports worth a total of $5.1bln for 2013.
Exports and imports are expected to amount to $2.8bln and $5.2bln in
2014 and to $3bln and $5.4bln in 2015 respectively, according to the
report. The country's trade red ink will reach $2.8bln by 2015.
According to the most recent data of Armenia's National Statistical
Service, exports were $1,292.2mln in 11 months of 2012, which is an
increase of 6.7% compared to the same period of the year before.
Imports grew by 2.5% to $3,838.5mln in the period, according to the
same source.
Direct foreign investments were $498mln in 2012 and are expected to
grow gradually and reach $624mln by 2015, says the report.
According to the most recent data of Armenia's National Statistical
Service, direct foreign investments in the real economy were about
$221.3mln in Armenia in the 9 months of 2012, as compared to $479.4mln
in the same period of 2011.
The IMF is projecting that Armenia's foreign debt will constitute 67.6%
of GDP by the end of 2012 and will decrease to 61% in 2015
The ministry of finance says Armenia's national debt was $4bln 374.9mln
at the end of 2012 and $3bln 159mln. Foreign debt totaled $3bln 159mln
against $2bln 950mln in 2011, according to the same source.
Earlier, head of WB Armenia country manager Jean-Michelle Happi told
ARKA Agency that, according to debt sustainability analysis (DSA)
by the WB and the IMF, Armenia is assessed as facing low risk of debt
distress. ($1=408.54drams).-0-