YEREVAN. – The Central Bank of Armenia (CBA) will raise the forecast for the country’s economic growth for 2021. CBA governor Martin Galstyan said this during the discussion of the CBA 2020 activity report at Wednesday’s sitting of the National Assembly.
Earlier, according to him, the CBA had forecast 1.4% economic growth at the end of the year. "The next forecast will be made on June 15 and, in all probability, it will be higher—taking into account the processes of economic recovery," Galstyan added.
Also, he noted that both business loans and remittances from abroad are growing in Armenia.
However, according to the head of the CBA, low activity and weak demand in the country's economy remain, but this will gradually be restored. "And how long will depend on the neutralization of COVID," Martin Galstyan stressed.