World Bank forecasts 1.5% economic growth in Armenia next year
World Bank forecasts 1.5 per cent economic growth in 2010 in Armenia, World Bank Armenia Country Manager Aristomene Varoudakis told a press conference in Yerevan.
"The recovery of Armenian economy will be gradual. The economy growth was mostly secured by construction industry," he said, adding that there are still some unfinished constructions and unsold apartments in new buildings, in particular, on North Avenue.
According to Mr. Varoudakis, inflation rate in 2010 is expected to be moderate, within the target of the Central Bank of Armenia.
However, Armenia's state budget projects 1.2 per cent economic growth and 4 ± 1.5 per cent inflation.
"The recovery of Armenian economy will be gradual. The economy growth was mostly secured by construction industry," he said, adding that there are still some unfinished constructions and unsold apartments in new buildings, in particular, on North Avenue.
According to Mr. Varoudakis, inflation rate in 2010 is expected to be moderate, within the target of the Central Bank of Armenia.
However, Armenia's state budget projects 1.2 per cent economic growth and 4 ± 1.5 per cent inflation.
