YEREVAN. - The forecasts for Armenia’s economic development have been revised, expected results lowered, reads the program for of monetary policy of Armenian Central Bank for 4th quarter of 2011.

Thus, the expected annual economic growth for 2011 should make 3,9-4,5 percent, whereas the program for 3rd quarter of 2011 expected a 4,7-5,5 percent growth.  

The Central Bank explained the possible reduction in the rate of economic growth with expectations of a slow recovery in global demand and declining expectations of economic entities about the future of the economic situation.