EDB ANALYSTS: IN CASE OF FALL IN METAL PRICES ARMENIA WILL BE DEPRIVED OF PRACTICALLY THE ONLY GROWTH FACTOR

Mediamax
July 30 2012
Armenia

Yerevan/Mediamax/. In case of steady fall in metal prices, Armenia
will be deprived of practically the only growth factor.

Such a conclusion is contained in "CIS Macro Monitor" quarterly report
published by the Analytical Department of the Eurasian Development
Bank, Mediamax reports.

"The GDP growth in Armenia maintained its dynamics formed over the
second half of 2011 - it exceeded the level of the same period of
2011 by 4.9%. Industry and metallurgy in the first place (16.6%)
became its key driver. Simultaneously, inflation kept declining
reaching its maximum over the 6 years (0.5% annually). Significant
progress has been made in the sphere of state finances - the budget
deficit decreased to 0.2% GDP. At the same time, the EDB experts
note that in case of steady fall in metal prices the country will
be deprived of practically the only growth factor which will make
its economy vulnerable to the impact of negative external factors",
the report reads.