YEREVAN, January 10. \/ARKA\/. GDP growth will speed up in Armenia to 6-7%, Eurasian Development Bank projects in its CIS Macromonitoring Dec 2011 Report.<\/p>\n
\u201cOur outlooks for the country economy\u2019s long-term prospects are optimistic as a whole,\u201d the Eurasian Development Bank said in its report. \u201cTaking into account the fact that Armenia\u2019s economy shows four-to-five-percent growth amid stagnation in investments, especially in construction, we expect a gradual acceleration in economic growth in Armenia in 2013 to minimum 6 or 7 percent with at least modest growth in these sectors.\u201d<\/p>\n
At the same time, experts at the Eurasian Development Bank say that the current slowdown in lending will have an adverse impact on the country\u2019s economic growth.<\/p>\n
However, if the global economy doesn\u2019t face as severe economic shocks as in 2008, this impact will be mild.<\/p>\n
The Eurasian Development Bank also says that if Armenia\u2019s central bank doesn\u2019t make unexpected mistakes, it will manage to keep the current five-percent annual inflation rate unchanged.<\/p>\n
Like many other countries, Armenia now can\u2019t reckon on considerable intensification of inflow of capital or on rapid increase in prices for its exports, and this will help doing it.<\/p>\n
\u201cIf adverse developments in the world economy don\u2019t undermine Armenian economy\u2019s firmness up to inevitable devaluation of the national currency, it will rather make it easier for the country\u2019s central bank to control inflation,\u201d the report says.<\/p>\n
EDB experts say that Armenia\u2019s economy faces some structural problems, such as a steady unemployment, the highest in the region.<\/p>\n
As another structural trouble, they pointed out the permanent foreign trade deficit, which poses a threat to Armenia\u2019s economy and can harm it if inflow of capital in the country dwindles precipitously and prices for exported raw materials fall.<\/p>\n
The experts recommended Armenia to enhance its competitiveness, lessen monopolization of markets, improve environment for doing business and develop its transport infrastructures to solve both problems.<\/p>\n
They think diversification of the country\u2019s exports, which mostly consists of metals and ores (60% of exports), and gradual contraction of the ratio of the foreign debt to GDP would make the economy steadier.<\/p>\n
National Statistical Service of Armenia says GDP amounted to AMD 1157.9 billion in the third quarter of 2011 \u2013 6.5% year-on-year growth.-0—<\/p>\n","protected":false},"excerpt":{"rendered":"
GDP growth will speed up in Armenia to 6-7%, Eurasian Development Bank projects in its CIS Macromonitoring Dec 2011 Report.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216,306],"tags":[15837,12579,13085,956],"class_list":{"0":"post-31774","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy-en","7":"category-news","8":"category-306","9":"tag-armenia-2","11":"tag-gdp-growth","12":"tag-956"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/31774","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=31774"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/31774\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=31774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=31774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=31774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}