Armenian Central Bank Revises Downward Its Economic Growth Outlook For 2011
10.11.2011,
03:39
Armenia’s Central Bank has revised downward its economic growth outlook for 2011 from 4.7%-5.5% to 3.9% - 4.5%, according to its Monetary and Credit Policy Program designed for the last quarter of the outgoing year.
YEREVAN, November 9. ARKA /. Armenia’s Central Bank has revised downward its economic growth outlook for 2011 from 4.7%-5.5% to 3.9% - 4.5%, according to its Monetary and Credit Policy Program designed for the last quarter of the outgoing year. The Central Bank said the GDP in January-September 2012 is expected to be within 3%-4.6%.
According to the document, the industrial output in 2011 is projected at 11.8% - 13.8%, mainly due increased capacities of operating large enterprises and to anticipated rise in mining and metallurgical output on condition that the current global prices will not change.
The expected increase in food and beverage industry and increased production of electricity are supposed to contribute to overall industrial output rise, the Central Bank said. It said the construction sector is projected to grow by 6.8-8.8%.
The services sector is expected to see a 2.9-4.9% growth, due to the anticipated slowdown in domestic supply, which in turn will affect both the volume of trade and the volume of other services. The agricultural GDP is expected to grow by 9.1-10,1% in 2011 and 6-8% in 2012, due to increased acreage and improvement in climatic conditions. -0-
According to the document, the industrial output in 2011 is projected at 11.8% - 13.8%, mainly due increased capacities of operating large enterprises and to anticipated rise in mining and metallurgical output on condition that the current global prices will not change.
The expected increase in food and beverage industry and increased production of electricity are supposed to contribute to overall industrial output rise, the Central Bank said. It said the construction sector is projected to grow by 6.8-8.8%.
The services sector is expected to see a 2.9-4.9% growth, due to the anticipated slowdown in domestic supply, which in turn will affect both the volume of trade and the volume of other services. The agricultural GDP is expected to grow by 9.1-10,1% in 2011 and 6-8% in 2012, due to increased acreage and improvement in climatic conditions. -0-
