YEREVAN, June 6. /ARKA/. Armenian commercial banks expect economic growth of 3-5% by the end of 2011, states CBA report “Possible developments of the banking system of Armenia in 2011- 2013”.
According to the report, rehabilitation of world economy will also influence positively on the Armenian economy, particularly increase of export, especially in mining industry is expected. It will promote increase of demand for credit resources and development of financial situation of the clients of the banks.
By the forecasts of the banks, inflation level will exceed the target indicator by 4% (±1.5%) in 2011. In average, commercial banks of Armenia expect inflation of 6.2%.
Increase of prices of raw-material and food products in the world market conditioned by the development of world economies, will promote occurrence of inflation impacts in Armenia. Possible increase of gas tariffs can also cause inflation pressures in 2011, states the report. –0–
