Time in Yerevan: 11:07,   4 March 2024

Central Bank forecasts 4-5% economic growth for Armenia in 2021

Central Bank forecasts 4-5% economic growth for Armenia in 2021

YEREVAN, SEPTEMBER 15, ARMENPRESS. According to the forecasts of the Central Bank, Armenia will have 4-5% economic growth in 2021, CBA President Martin Galstyan told reporters today.

“The 6.2% decline forecast by us for this year will be followed by nearly 5% economic growth in 2021. We expect that all spheres will record a positive growth, for instance, we expect for the services field to have 4.2% growth, agriculture – 3.2%, industry – 5%”, he said.

Touching upon the current economic activity in some sectors, the CBA President said in case of industry they were predicting 2.2% decline, but at this moment it is 2%. There is a positive progress in terms of industry, which is connected with the export of raw materials, as well as the high prices registered in the international market. But, in line with this, there is a major decline in the construction sector -18.7%.

“I would like to note that here there is also a statistical problem. Construction is registered when it is over, the ongoing construction is not registered in the statistics. Therefore, there can be cases when we see construction works, but they are not recorded statistically”, he said.

Editing and Translating by Aneta Harutyunyan




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