2.8% GDP growth was registered in Armenia this January-September, which means that GDP growth rates are slowing down. The highest GDP growth, 8.8%, was registered this January-May. Also 4% GDP growth was registered this January-July, and 3.1% this January-August, reported the RA Statistical Service.

The Armenian Government accounts for the lower GDP growth rates by seasonal decline in the agricultural sector.

This January-September, the season decline in the Armenian agricultural sector was 17.9%. Also, the construction sector registered a 5.2% decline. On the other hand, a rather high growth, 10.9%, in the construction sector accounts for the modest GDP growth this January-September.

NEWS.am reminds readers that 1.2% GDP growth is budgeted for this year. At the discussions of the 2011 draft budget RA Prime Minister Tigran Sargsyan stated that 2.4% GDP growth was expected in Armenia for this year. The International Monetary Fund (IMF) forecasts 4% GDP growth in the country.