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YEREVAN. - The International Monetary Fund (IMF) says economic growth in Armenia will be lower than the expected 3.8%.   

Speaking at the press conference in Yerevan, head of IMF mission to Armenia Mark Horton recalled that the December forecast said it would reach 4%.

He conditioned the lower growth by unfavorable foreign situation, in particular recession in Europe.

The 2012 economic growth was forecasted at 4.2% in the law on state budget.

The IMF is confident that the Central Bank of Armenia will be able to keep inflation at 4%.

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