Armenia’s commercial banks&lending agencies predict 8.5-11.5 per cent economic growth in Jan-Sept 2009
15.10.2008,
01:29
Armenia’s most commercial banks (13) and lending agencies (11) forecast an 8.5-11.5% economic growth next January-September.
YEREVAN, October 14. /ARKA/. Armenia’s most commercial banks (13) and lending agencies (11) forecast an 8.5-11.5% economic growth next January-September.
As noted in the Compile of a quarterly survey of commercial banks and lending agencies by the Statistical Service of the Central Bank of Armenia (CBA), seven commercial banks and ten lending agencies expect an economic growth below 8.5% next January-September while 2 commercial banks and a lending agency forecast an economic growth of over 11.5%.
According to the document, 18 commercial banks and eight lending agencies believe the economic environment did not get worse in the third quarter.
Ten commercial banks and lending agencies believe the economic environment will not change in the fourth quarter. Only one bank and five lending agencies expect its worsening.
According to the CBA predictions that are fixed in the CBA Protocol on forecasts and monetary management for Q4, the economic growth will reach 8-11% in the basal scenario against 6-9% in the alternative scenario during the first three quarters and 10-11% economic growth is expected in the Q4.
According to the Statistical Service an annual 10.3% economic growth was recorded in Armenia this January-August. According to the state budget, a 10% rise is estimated in Armenia’s GDP for 2008.
Currently 22 commercial banks and 23 lending agencies operate in Armenia. –0--
As noted in the Compile of a quarterly survey of commercial banks and lending agencies by the Statistical Service of the Central Bank of Armenia (CBA), seven commercial banks and ten lending agencies expect an economic growth below 8.5% next January-September while 2 commercial banks and a lending agency forecast an economic growth of over 11.5%.
According to the document, 18 commercial banks and eight lending agencies believe the economic environment did not get worse in the third quarter.
Ten commercial banks and lending agencies believe the economic environment will not change in the fourth quarter. Only one bank and five lending agencies expect its worsening.
According to the CBA predictions that are fixed in the CBA Protocol on forecasts and monetary management for Q4, the economic growth will reach 8-11% in the basal scenario against 6-9% in the alternative scenario during the first three quarters and 10-11% economic growth is expected in the Q4.
According to the Statistical Service an annual 10.3% economic growth was recorded in Armenia this January-August. According to the state budget, a 10% rise is estimated in Armenia’s GDP for 2008.
Currently 22 commercial banks and 23 lending agencies operate in Armenia. –0--
