YEREVAN, September 26. /ARKA/. Armenia’s Central Bank has revised upward its forecast of economic growth for 2019. It said economic activity is high in the third quarter of 2019 and that this trend will also continue in the short term, as a result of which the projected GDP growth for 2019 has been revised upwards to 6.9%.
The government projection of GDP growth for 2019 is 4.9%. According to the regulator, growth will be driven by the services and partially by industry, to be accompanied by private consumption.
Moreover, according to the Central Bank, in the medium term, economic growth will be resulting from the expansion of production capacities, structural reforms of the government and economic growth in partner countries.
The Central Bank’s GDP growth forecast for 2020 is 4.9% and 5.1 % for 2021. -0-
