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ARMENIAN CENTRAL BANK FORECASTS 11% GDP GROWTH IN 2008
Russia & CIS Business and Financial Newswire
December 18, 2007 Tuesday 10:44 AM MSK
Armenia's Central Bank is forecasting GDP growth of 11% in 2008,
while the state budget for next year assumes growth of 10%.
The Central Bank's monetary policy plan for next year projects that
economic growth will be driven primarily by industry and agriculture.
Industrial production is expected to grow 6-8% with an end to the
decline in the jewelry and diamond cutting industry.
The Central Bank is also forecasting growth in the chemicals industry,
electricity sector, food industry and production of construction
materials.
Growth in the construction sector is expected to accelerate slightly
to 16%.
The service sector is expected to grow 13-14%, while agricultural
production is projected to increase 2-3%.
Russia & CIS Business and Financial Newswire
December 18, 2007 Tuesday 10:44 AM MSK
Armenia's Central Bank is forecasting GDP growth of 11% in 2008,
while the state budget for next year assumes growth of 10%.
The Central Bank's monetary policy plan for next year projects that
economic growth will be driven primarily by industry and agriculture.
Industrial production is expected to grow 6-8% with an end to the
decline in the jewelry and diamond cutting industry.
The Central Bank is also forecasting growth in the chemicals industry,
electricity sector, food industry and production of construction
materials.
Growth in the construction sector is expected to accelerate slightly
to 16%.
The service sector is expected to grow 13-14%, while agricultural
production is projected to increase 2-3%.