Central bank’s projected 5.4-6.1 percent economic expansion is realistic - board member

Central bank’s projected 5.4-6.1 percent economic expansion is realistic - board member

YEREVAN, February 24. / ARKA /. The 5.4-6.1 percent economic expansion projected by the central bank of Armenia for this year is quite realistic, Arthur Stepanayan, a central bank board member, told reporters today.

Looking back into the past year Stepanyan said the economic growth in the first half of 2013 was quite high but later it slowed down due to some factors to become quite weak in the second half.

He said the regulator expects the economic growth to continue to be weak in the first quarter of 2014 because the influence of some factors on economic growth has not yet ended and to  accelerate beginning from the second and third quarters.

According to him, the growth will be backed by the implementation of several planned programs as well as by a favorable atmosphere in almost all partner countries whose economies are on the rise and also due to expansionary domestic policy.

Another factor to propel the economic expansion are several planned construction and industrial projects.
The authorities have projected at 5.2 % GDP growth for this year. -0-

15:43 24.02.2014

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