Mon, 16 June
17.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

Central Bank expects Armenian economy to expand 2.4-2.7% this year

YEREVAN, October 29, /ARKA/. Armenia’s Central Bank said in its Program of Money and Credit Policies for Quarter Four 2010 that the economy will expand by 2.4-2.7% this year. The forecast for the first nine months is 4-5%.
The Bank says economic growth risks are bilateral depending both on external and internal factors. But except for industrial sector risk all other risks have prevailing impact on economic expansion.
The Central Bank has revised downward the full-year industrial growth forecast to 6.5-8.5% . The forecast for January-September is 5-7% industrial output growth. The Central Bank has also revised downward its full-year forecast for construction sector growth to 0.5-2.5% expecting it to growth by 1.5-3.5% in the first nine months of 2010.
The forecast for services has also been revised downward to 4.5-6.5%. The Central Bank expects this sector to post a 2.5-4.% growth for January-September. The Central Bank also expects the agriculture to contract by 13-16% this year and rise by 7-9% in January-September 2011.-0-

YEREVAN, October 29, /ARKA/. Armenia’s Central Bank said in its Program of Money and Credit Policies for Quarter Four 2010 that the economy will expand by 2.4-2.7% this year. The forecast for the first nine months is 4-5%.

The Bank says economic growth risks are bilateral depending both on external and internal factors. But except for industrial sector risk all other risks have prevailing impact on economic expansion.

The Central Bank has revised downward the full-year industrial growth forecast to 6.5-8.5% . The forecast for January-September is 5-7% industrial output growth. The Central Bank has also revised downward its full-year forecast for construction sector growth to 0.5-2.5% expecting it to growth by 1.5-3.5% in the first nine months of 2010.

The forecast for services has also been revised downward to 4.5-6.5%. The Central Bank expects this sector to post a 2.5-4.% growth for January-September. The Central Bank also expects the agriculture to contract by 13-16% this year and rise by 7-9% in January-September 2011.-0-

spot_img

POPULAR

ARKA News Agency: 29 years of trust and professionalism

Dear friends, today is a special day for us at ARKA news agency as we proudly celebrate 29 years of dedicated service.

Average annual exchange rate of Armenian dram to US dollar  projected at 402 drams in 2025 – EDB

The value of the Armenian dram will decrease slightly in 2025, and its average annual exchange rate to the US dollar is projected at 402 drams in 2025, according to the Eurasian Development Bank’s (EDB)   macroeconomic forecast for 2025-2027.

Byblos Bank Armenia becomes CaseKey strategic partner

Byblos Bank Armenia has become the strategic partner of the CaseKey Business Case Competition, emphasizing the importance of continuous investment in promising educational programs.

EBRD’s investments in Armenia in 2024 reached record 400 million euros – Head of Finance Ministry

he European Bank for Reconstruction and Development's (EBRD) investments in Armenia in 2024 hit the record 400 million euros, Armenian Finance Minister Vahe Hovhannisyan said at a meeting with EBRD President Odile Renaud-Basso in London.

Central Bank of Armenia considering introducing long-term mechanisms for insurance against fraud

The Central Bank of Armenia is considering the possibility of introducing mechanisms for insurance against fraud.

LATEST NEWS

spot_imgspot_imgspot_img