A significantly higher growth target set by President Serzh Sarkisian for the Armenian economy this year is "achievable" but contingent on a host of domestic and external factors, a senior official from the World Bank said on Thursday.
Sarkisian announced on Monday that a GDP growth rate of 7 percent is his "primary expectation" from his government reshuffled as a result of last month's parliamentary elections.
The government had forecast earlier that the Armenian economy will expand by 4.2 percent in 2012.
The World Bank and the International Monetary Fund (IMF) came up with virtually identical forecasts early this year but subsequently revised them downwards, citing unfavorable global economic trends. In its global economic outlook released last week, the World Bank said economic growth in Armenia will come in at 4.1 percent this year.
Armenian News
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