YEREVAN, February 24. /ARKA/. Armenia’s GDP to grow by 5.4-6.1% by the end of 2014, says the report of the Central Bank of Armenia about inflation based on monetary and credit policy for Q1 2014.
According to the Central Banks’ short-term projections, private consumption will increase by 5.3% and private investments by 3.9% in 2014. Consequently, real increase in exports of goods and services will be 11-13%; imports and private transfers will increase by 3.5% and 7-9% respectively.
The Central Banks expects the country to post 5.4-6.1% GDP growth mainly due to growth of industry and services.
In the period economy growth will stabilize within the range of 5-6%, close to its long-term equilibrium, due to stabilized private consumption increase and slow recovery rates of private investments, according to the report.
GDP growth rate planned under the 2014 budget is 5.2%. –0--