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Armenia raises growth forecast for 2015

Xinhua, August 24, 2015 Adjust font size:

Armenia's central bank has raised its forecast for the country's 2015 economic growth to between 2.8 percent and 3.6 percent from between 1.6 percent and 2.6 percent.

The country's agricultural sector will expand between 10.5 and 11.5 percent year on year, the construction sector at 1.1 percent, and industrial sector between 4.4 percent and 5 percent.

Private consumption demand is expected to decline by 1.6 percent and private investment will drop by 4 percent by the end of 2015, the bank said.

Experts believed that Armenia's economic activities will be at the equilibrium level due to the observed financial stability. Endi