World Bank predicts 4-5% full-year GDP growth for 2010
18.06.2010,
21:04
A senior World Bank official said today Armenia’s full-year GDP growth may amount this year to 4-5%.
YEREVAN, June 18, /ARKA/. A senior World Bank official said today Armenia’s full-year GDP growth may amount this year to 4-5%. Speaking at a news conference, Aristomene Varoudakis, head of World Bank Yerevan Office, said based on the dynamic of the economic expansion in the first four months of the year one can say that the growth will be distributed among different sectors equally, except for agriculture.
The Armenian government has projected a 1.8% economic growth, while the International Monetary Fund has projected a 4% growth and a 6% inflation. According to Mr. Varoudakis, the growth in some sectors, particularly, in construction is the aftereffect of the government’s anti-crisis program. The sector posted an 8.8% growth in the first four months year-on-year.
Regarding the inflation rate, Mr. Varoudakis said it will keep on growing, although it will be depending on external factors, like oil and food prices as well as on changing exchange rate of the national currency, the Dram.
According to the latest government data, Armenian economy expanded by 7.2% in January-April year-on year. The inflation rate rose to 8% if compared to the first 4 months of 2009. The government has projected a 4% (±1,5%) inflation rate for 2010. -0-
The Armenian government has projected a 1.8% economic growth, while the International Monetary Fund has projected a 4% growth and a 6% inflation. According to Mr. Varoudakis, the growth in some sectors, particularly, in construction is the aftereffect of the government’s anti-crisis program. The sector posted an 8.8% growth in the first four months year-on-year.
Regarding the inflation rate, Mr. Varoudakis said it will keep on growing, although it will be depending on external factors, like oil and food prices as well as on changing exchange rate of the national currency, the Dram.
According to the latest government data, Armenian economy expanded by 7.2% in January-April year-on year. The inflation rate rose to 8% if compared to the first 4 months of 2009. The government has projected a 4% (±1,5%) inflation rate for 2010. -0-
