Sun, 19 October
20.1 C
Yerevan
USD: 382.59 RUB: 4.71 EUR: 447.25 GEL: 141.36 GBP: 513.89

Armenian central bank revises downward economic growth forecast for 2018

YEREVAN, November 28 / ARKA /. Armenia’s Central Bank has revised downward its forecast of economic growth for 2018 to 4.6%-5.1% from its previous projection of 5.6%-6.9%.

The regulator said in a report on its monetary policy that high rates of economic activity, recorded in the first half of 2018, began to decline from the third quarter. It said also that the private spending is still on the rise, caused by ‘unprecedented growth in working capital reserves.”

The report of the Central Bank said that the projected economic growth for 2018 is backed by the investments, lending growth, as well as by a large number of tourists visiting Armenia.

In the medium term, economic growth will be driven by economic activity and ongoing reforms. The Central Bank said also it expects the economy to expand by 4.4%-5.5% in 2019 and by 3.9%-5.4% in 2020.

“Medium-term economic growth will be driven largely by the expansion of production capacity, the structural reforms undertaken by the government, as well as by economic growth in the partner countries,” the report said. The government’s GDP projection for 2018 is 4.5%. -0-

spot_img

POPULAR

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Investor of the new era: how the capital management culture is changing in Armenia

Interest in investments in Armenia is growing, but it is too early to talk about an established capital management culture.

The UAE instead of Europe : why Armenia needs to change its approach to crypto regulation – EXCLUSIVE

The Armenian Forum on Cryptocurrency Assets, organized by the Cilicia Business Club, was recently conducted in Yerevan.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Armenia is experiencing an investment boom: opportunities, barriers and main misconceptions

Armenia's investment market is experiencing a period of active development: the number of issues is growing, digital technologies simplify access to financial instruments.

LATEST NEWS

spot_imgspot_imgspot_img