Armenian central bank revises upward GDP growth forecast for this year
30.11.2017,
17:43
Armenia’s Central Bank said today it had raised its forecast for GDP growth for this year to 4.4-4.9 percent, up from an earlier estimate of 3.8-4.8 percent.
YEREVAN, November 30. /ARKA/. Armenia’s Central Bank said today it had raised its forecast for GDP growth for this year to 4.4-4.9 percent, up from an earlier estimate of 3.8-4.8 percent. It said the growth is being driven by increasing private consumption (7.4%) and investments (6% growth).
The regulator said the factors that are helping step up domestic consumption are the expansionary monetary policy of the Central Bank, the growth of remittances from the Russian Federation and the government's policy of stimulating investment.
The Central Bank also noted that the expected economic growth is being helped by the restoration of external demand. According to official data, Armenia's gross domestic product grew by 3.5 percent in the third quarter of this year, down from 6.5% reported for the first quarter. The growth in the second quarter was 5.5 percent. The government expects the country's economy to grow by 3.2 percent this year. -0-
The regulator said the factors that are helping step up domestic consumption are the expansionary monetary policy of the Central Bank, the growth of remittances from the Russian Federation and the government's policy of stimulating investment.
The Central Bank also noted that the expected economic growth is being helped by the restoration of external demand. According to official data, Armenia's gross domestic product grew by 3.5 percent in the third quarter of this year, down from 6.5% reported for the first quarter. The growth in the second quarter was 5.5 percent. The government expects the country's economy to grow by 3.2 percent this year. -0-
